China Construction Bank Corp. Chairman Guo Shuqing forecast the nation's fourth-largest lender will report higher profit in the second half as loan growth accelerates.

Lending will increase 16 percent for the full year, compared with 14.5 percent in the first six months, Guo, 51, said in a Bloomberg television interview today. The Beijing-based bank expects an improvement in second-half profit, he said.

Construction Bank, which had first-half net income of 23.2 billion yuan ($2.91 billion), today became the first mainland- incorporate company to join Hong Kong's Hang Seng Index, reflecting the growing importance of Chinese companies to the city's stock market. With a market value of $99 billion, the lender ranks as the world's 11th-biggest bank.

The lender plans to expand in markets outside Asia, including Europe, after buying Bank of America Corp.'s Hong Kong and Macau unit last month for HK$9.7 billion ($1.24 billion), Guo said. The lender has no current plan to raise funds by selling additional shares, he said.

China's banking regulator has been trying to slow lending growth out of concern that investment is expanding too rapidly, raising the risk of overcapacity and bad loans. China's economy grew ``too fast'' in the first half, Guo said.

Source:佚名