On Sunday, China Construction Bank (CCB) reported a 27% increase in first quarter net profit and 20% growth in second half profit.

CCB is China’s second biggest lender to house buyers and building construction projects.

The profits results have been far better than the expert’s forecast, but the earnings have decreased as compared to the last quarter’s 34% profits.

In April to June, CCB reported a net profit of $5.24 billion, that is, almost 35.6 billion yuan. The earnings are quite high as compared to previous year’s 29.6 billion yuan net profit.

Jin Lin, Analyst at Orient Securities Co. in Shanghai, said that the results are much higher than he had expected. He also said that in the coming years, the banks will get average annual growth of 15% due to loan expansion plans.

Other banks like Industrial and Commercial Bank of China and Bank of China have also said that they are expecting growth in the coming months, which will fortify their net profits.

CCB has assured that it will try to restrain loan growth and strengthen risk management in the coming time.

CCB’s capital adequacy percentage was 11.68% till June 30, which is lower from 11.70% at the end of previous year.