China Construction Bank, the country's No 2 lender, said first-half earnings rose 14.5 percent, beating market expectations, helped by steady growth in net interest income as the bank started charging more for loans.
CCB said it made a net profit of 106.3 billion yuan in January-June, higher than the 92.8 billion yuan it recorded a year ago and better than expectations for a 100.8 billion yuan net profit, a Reuters poll of nine analysts showed.
The bank made a second-quarter net profit of 54.78 billion yuan, a Reuters calculation of company figures showed, better than expectations for 50.8 billion yuan in the Reuters survey.
"In the second half of 2012, there stil exist many challenges for the global economic recovery," the bank said in a statement posted on the Hong Kong bourse. "It is estimated that policies related to restrictions in property purchases and loans will not change."
Net interest margin, which measures loan profitability, clocked in at 2.71 percent from 2.65 percent at the end of March. This rise was due to greater demand for loans in the country, which drove up lending rates, CCB said.
Better-than-expected margins also helped rival Bank of China meet market expectations on Thursday.
Many had expected margins to shrink, as China embarks on interest rate liberalisation that has narrowed the spread between the what the bank pays depositors and charges borrowers.
CCB is China's biggest mortgage lender and also most exposed to the country's now-struggling real estate sector. Its shares are down about 2 percent so far this year. By comparison, the benchmark Hang Seng Index is up 1 percent.