China : Bank of China’s Profit Rises After Selling Nanyang Commercial Bank
Tue Aug 30 2016
Eric Whitman (223 articles)

China : Bank of China’s Profit Rises After Selling Nanyang Commercial Bank

BEIJING : Bank of China , the country’s fourth-biggest lender by assets, reported a 2.5% increase in net profit in the first half, helped by the disposal of Nanyang Commercial Bank.

BoC said on Tuesday its net profit for the January-June period was 93.0 billion yuan ($ 13.93 billion), compared to 90.7 billion yuan in the year-ago period.

The first-half figure implies a net profit of 46.4 billion yuan in the second quarter, up from 44.9 billion yuan in the year-ago period, according to Reuters calculations.

Three analysts on average had forecast a second-quarter profit of 44.5 billion yuan, according to a Reuters calculation.

BoC’s non-performing loan ratio increased to 1.47% at end-June from 1.43% at end-March.

Eric Whitman

Eric Whitman

Eric Whitman is our Senior Correspondent who has been reporting on Stock Market for last 5+ years. He handles news for UK and Europe. He is based in London

Discussion

Rules of Discussion on Live Index

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.