BOC Hong Kong: 1st Half Net Profit HK$17.22 Billion

By Chester Yung Features Dow Jones Newswires

BOC Hong Kong (Holdings) Ltd. (2388.HK) Wednesday reported its first-half net profit fell to 17.22 billion Hong Kong dollars (US$2.2 billion) from HK$42.84 billion a year earlier, as earnings in the previous year were buoyed by a one-off disposal gain.

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The Hong Kong-listed bank, a unit of Bank of China Ltd. (3988.HK) said the net profit for the six months ended June from its continuing operations rose 25% on year to HK$14.63 billion, while its first-half net interest income rose 41% to HK$16.88 billion due to wider net interest margin.

The bank declared an interim dividend of HK$0.545 per share and a special dividend of HK$0.095 per share.

Separately, BOC Hong Kong said it appointed Chen Siqing as the bank's chairman with immediate effect.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

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August 30, 2017 05:46 ET (09:46 GMT)