China Construction Bank has reported that its net profit for the first half of 2008 increased by 71.34% year-over-year to RMB58.69 billion, as against RMB34.25 billion in the same period in 2007.

Earnings per basic and diluted share increased by 66.67% year-over-year to RMB0.25, compared to RMB0.15 in the prior-year period.

For the first six months of 2008, operating income rose by 36.04% year-over-year to RMB135.74 billion, compared with RMB99.77 billion for the first six months in 2007.

Profit before tax for the six-month period increased by 49.69% year-over-year to RMB75.65 billion, compared to RMB50.542 billion in the first half of 2007.

Net interest margin for the period was 3.29%, as against 3.11% for the corresponding period of 2007, a growth of 0.18%.

Total assets as of June 30, 2008 increased by 6.96% to RMB7.06 trillion from RMB6.59 trillion as at December 31, 2007.

Guo Shuqing, chairman of China Construction Bank, said that the bank has achieved good operating results for the first half of 2008 because it had benefited from China’s overall economic and financial environment and from the bank’s own internal reform and innovation, and had availed itself of the wisdom and efforts of all staff.