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By Xie Fang

China Construction Bank (CCB), one of the country’s four largest commercial banks, released its audited financial statements Tuesday evening, reporting a moderate profit growth over the first three quarters of 2018, the Shanghai Securities Journal reported.

The statements show that during the reporting period, the bank pocketed 214.11 billion yuan (30.86 billion U.S. dollars) in net profit, a year-on-year increase of 6.39 percent, which means that its net profit has been maintaining a steady growth for 14 consecutive years.

Meanwhile, the bank generated over 500 billion yuan (72.06 billion U.S. dollars) during the past three quarters of the year, a year-on-year growth of 5.94 percent.

By the end of September, the bank’s total assets amounted to 23.35 trillion yuan (3.36 trillion U.S. dollars), which rose by 5.56 percent from the end of 2017.

When it comes to asset quality, the balance of the bank’s non-performing loan had amounted to 201.82 billion yuan (29.09 billion U.S. dollars) by the end of September, increasing by 9.53 billion yuan (1.37 billion U.S dollars) from the end of last year, while its non-performing loan ratio decreased by 0.02 percentage points during the reporting period to 1.47 percent.

As a traditional revenue source for banks, CCB’s interest revenue grew by 9.72 percent year on year over the past three quarters to reach 365.72 billion yuan (52.69 billion U.S. dollars).

During the reporting period, the bank saw revenue from such services as e-banking and trusteeship rise at a relatively fast pace, while its revenue from wealth management services dropped from a year earlier due to the tougher wealth management regulations issued by banking regulators in July with the purpose of cracking down on China’s shadow banking system.