[nL3N1H5347] CCB's full-year net profit rose 1.45 percent to 231.46 billion yuan ($33.61 billion) from 228.1 billion yuan in 2015. The bank's net interest margin (NIM) - the difference between interest paid and earned - was 2.2 percent at end-December, down from 2.26 percent at end-September. Fourth-quarter profit increased by 2.8 percent to 37.63 billion yuan ($5.46 billion) from 36.6 billion yuan a year earlier, according to Thomson Reuters calculations based on the company's figures, and was above the 33.7 billion yuan average estimate from analysts polled by Thomson Reuters. AgBank is in discussions to undertake more than 20 debt-to-equity deals after signing agreements with eight companies worth around 70 billion yuan. ReutersUPDATE 1-China CCB's 2016 net profit rises slightly, margins shrink* CCB 2016 profit up 1.45 pct on year * NIM falls to 2.2 pct in Q4 from 2.26 pct in Q3 * NPL ratio eased to 1.52 pct end-Dec from 1.56 pct end-Sept (Adds CCB earnings and AgBank news conference details) SHANGHAI/BEIJING, March 29 (Reuters) - China Construction Bank Corp (CCB) <0939.HK><601939.SS>, the country's second-biggest lender by assets, reported on Wednesday a slightly higher 2016 net profit amid a squeeze on bank margins.
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"This has been one of the toughest trading environments Li & Fung has ever seen," chief executive Spencer Fung said in a statement. It also aims to increase its core operating profit margin to 3 per cent by 2019 from 2.5 per cent last year. "Our policy to maintain a high dividend payout has not changed, it has been so since our facebook/" target="_blank">shares' listing in 1992," Spencer Fung said. The company is also aiming to achieve a "low double digit" annual compound average percentage growth on core operating profit in the three years to 2019. Li & Fung on Wednesday announced it will spend US$150 million between this year and 2019 to "digitalise" its operation "to create the supply chain of the future".
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As it stated in
"This has been one of the toughest trading environments Li & Fung has ever seen," chief executive Spencer Fung said in a statement. It also aims to increase its core operating profit margin to 3 per cent by 2019 from 2.5 per cent last year. "Our policy to maintain a high dividend payout has not changed, it has been so since our facebook/" target="_blank">shares' listing in 1992," Spencer Fung said. The company is also aiming to achieve a "low double digit" annual compound average percentage growth on core operating profit in the three years to 2019. Li & Fung on Wednesday announced it will spend US$150 million between this year and 2019 to "digitalise" its operation "to create the supply chain of the future".
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