BOC reports 11% profit growth in H1

GMT 23:03 2014 Tuesday ,19 August

Arab Today, arab today BOC reports 11% profit growth in H1

The Bank of China
Beijing - XINHUA

The Bank of China (BOC) announced on Tuesday that its net profit rose 11 percent year on year in the first half of 2014 to 93.4 billion yuan (15 billion U.S. dollars).
The BOC said in a semiannual financial report that its net interest income climbed 14.1 percent from a year earlier to 157 billion yuan while net fees and commission income increased 14.6 percent to 52.1 billion yuan in the January-June period.
The bank's total assets stood at 15.5 trillion yuan at the end of June, up 11.5 percent year on year, according to the BOC report.
The non-performing loans (NPL) grew 12.6 billion yuan in the first six months to 85.9 billion yuan at the end of June, accounting for 1.02 percent of the bank's total loans.
The BOC said it actively managed risk and the NPL provision coverage ratio was 217 percent at the end of June.

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