Bank of Communications 3rd-Quarter Net Up at CNY15.44 Billion

Features Dow Jones Newswires

Bank of Communications Co. (3328.HK) said Friday third-quarter net profit rose 3.5% from a year ago to 15.44 billion yuan ($2.3 billion), buoyed by robust growth in commissions and fees.

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China's sixth-largest commercial lender by assets said net profit in the first nine months of the year gained 3.5% to 54.42 billion yuan from a year ago.

Net interest income dropped 1.5% on year to 32.13 billion yuan in the third quarter, while net fee and commission income rose 17.8% to 9.35 billion yuan, the bank said.

BoCom also reported its bad-loan ratio fell to 1.51% from 1.53% a year earlier.

--Grace Zhu

(END) Dow Jones Newswires

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October 27, 2017 05:31 ET (09:31 GMT)