Bank of China 1st-Half Net Profit Up 12% at CNY103.69 Billion

Features Dow Jones Newswires

Bank of China said on Wednesday its first-half net profit rose 12% on year, thanks to higher interest and fee income.

Continue Reading Below

Net profit for the six months ended June 30 rose to 103.69 billion yuan ($15.8 billion) from 93.04 billion yuan a year earlier, China's fourth-largest bank by assets said.

Net interest income rose 6.6% on year to 165.04 billion yuan and net fee and commission income increased 2.8% to 49.19 billion yuan.

Outstanding bad loans totaled 147.03 billion yuan at the end of June, up from 146 billion yuan at the end of 2016. The bank's non-performing loan ratio declined to 1.38% from 1.46% at the end of 2016.

Write to Grace Zhu at grace.zhu@wsj.com

(END) Dow Jones Newswires

Continue Reading Below

August 30, 2017 05:39 ET (09:39 GMT)