Business
17:09, 26-Aug-2017
Bank of Communications reports fastest profit increase in two years
["china"]
Share
Copied
The Bank of Communications of China has announced that its profit in the first half of 2017 rose at the fastest rate in two years thanks to growth in fee income.
Net profits increased 3.49 percent year on year in the first six months this year to 38.98 billion yuan (5.9 billion US dollars), higher than the 2.5 percent growth rate recorded in the same period a year ago, according to an annual report issued by the bank on Thursday.
VCG Photo
VCG Photo
Asset value has increased 6.28 percent from early this year to 8.93 trillion yuan (1.34 trillion US dollars) by the end of June.
Net interest income declined while net fee and commission income increased. Bank restructuring and overseas business also generated higher profits.
The outstanding bad loan and non-performing loan ratio declined in the first half, said the bank.
Peng Chun, president of the bank, underscored the importance of risk prevention in the second half of the year, as risks from liquidity, operations and the external environment pose daunting challenges.
1068km
Source(s): Xinhua News Agency