Big Four bank reports weakest profit in six years

China Construction Bank (601939.SH, 0939.HKG), one of the country’s four biggest banks, said profits rose 14% in 2012, the slowest year-over-year growth rate since 2006, The Wall Street Journal reported. Net earnings for the year totaled US$31.1 billion (RMB193.2) as a moderate liberalization of interest rates reduced profits. CCB, which is the largest lender to Chinese home buyers, reported that its ratio of bad loans dipped last year to 0.99% from 1.09%, but its overdue loans – a barometer of future bad loans – rose from 0.88% to 1.03% of total loans extended.