China's CCB says interest margin drop almost over
The decline in China Construction Bank's net interest margin has almost bottomed out, Guo Shuqing, chairman of the country's second-largest lender by assets, said on Monday.
Guo was briefing reporters on the bank's interim earnings, which it released on Friday.
China Construction Bank, in which Bank of America holds a stake of about 11 percent, reported a forecast-beating $4.33 billion profit for the second quarter, up 11 percent from a year earlier, as loans soared under Beijing's economic stimulus plan.
(Reporting by Michael Wei and Alan Wheatley; Editing by Chris Lewis)
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