Bank of Communications 1Q Net Profit CNY19.3 Billion, Up 1.35% on Year

By Chuin-Wei Yap Features Dow Jones Newswires

China's Bank of Communications Co. (3328.HK) said Friday its net profit in the first quarter this year rose 1.35% to 19.3 billion yuan ($2.8 billion) from a year earlier, buoyed by fee and commission income.

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Net interest income at China's second-largest commercial lender by assets fell by 8.3% to 31.2 billion yuan, while net fee and commission income rose by 4.7% to 11.3 billion yuan in the first quarter, the bank said.

The bank also reported 65.8 billion yuan of nonperforming loans at the end of the quarter, up from 62.4 billion yuan three months earlier. The bank's bad-loan ratio was unchanged from 1.52% at the end of last year.

Write to Chuin-Wei Yap at chuin-wei.yap@wsj.com

(END) Dow Jones Newswires

April 28, 2017 05:17 ET (09:17 GMT)