China Construction Bank Full-Year Profit Rises 11%

China Construction Bank

reported an 11% gain in its 2013 net profit. The bank's net profit for the year surged to 214.66 billion yuan ($35.2 billion), versus a year-ago profit of CNY193.18 billion. However, analysts were expecting a profit of CNY212.29 billion. Its net interest income climbed 10% to CNY389.54 billion, while fee and commission income jumped 11% to CNY119.06 billion. China Construction Bank's net interest margin shrank to 2.74 percentage points versus 2.75 percentage points. China Construction Bank shares closed at $13.90 on Friday.