China Construction Bank first quarter profit up 16 pct

HONG KONG, April 26 Fri Apr 26, 2013 6:47am EDT

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HONG KONG, April 26 (Reuters) - China Construction Bank , the world's No.2 lender by market value, reported better-than-expected first-quarter earnings on Friday, as signs of a rebound in home prices helped to boost lending.

CCB said its net profit was 59.6 billion yuan ($9.66 billion)in January-March, above expectations for 55.2 billion yuan, according to a Reuters poll of six analysts. This was also 16 percent higher than 51.6 billion yuan the bank reported the same period a year ago. ($1 = 6.1707 Chinese yuan) (Reporting by Kelvin Soh; Editing by Edmund Klamann and Jane Merriman)

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