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China Construction Bank eyes faster loan growth

Mon Aug 25, 2008 5:24am EDT

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HONG KONG/BEIJING, Aug 25 (Reuters) - China Construction Bank (0939.HK), the country's second-largest lender by assets, said on Monday it expects full-year growth in local-currency lending this year of 10 percent, implying faster growth in the second half.

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In the first half, the bank's domestic currency lending rose by 7.6 percent.

President Zhang Jianguo issued the loan growth target on Monday at a briefing in Beijing. On Friday, the lender posted a 71 percent jump in first-half net income to 58.7 billion yuan (US$8.6 billion), thanks to higher fee income and margins, in line with market forecasts. (US$=6.8434) (Reporting by Victoria Bi and Eadie Chen; writing by Tony Munroe) (tony.munroe@reuters.com; Reuters Messaging: tony.munroe.reuters.com@reuters.net; +852 2843 6358, Fax +852 2845 0636))
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