Profits driven by interest income

CHINA CONSTRUCTION BANK CORP, preparing for what may be a $6.5 billion (€4.8bn) share sale this year, said first-half profit surged 47% on more lucrative lending and more fee-based services.

Net income rose to 34.2 billion yuan ($4.5 billion),

“Interest income accounted for an overwhelming percentage of Construction Bank’s operating profit and it certainly benefited from China’s loan growth and a widening margin,’ said Yuk Kei Lee, a Hong Kong-based analyst at Core Pacific-Yamaichi International.