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BANK OF CHINA POSTS 40% LEAP IN PROFITS IN FIRST NINE MONTHS.(Financial report)
BEIJING, Nov 1 Asia Pulse - The Bank of China (BOC) (SEHK:3988, SSX:601988), one of the country's "Big Four" state-owned commercial banks, said its after-tax profits rose by 40 per cent to 45.5 billion yuan (US$6.1 billion) in the first nine months of the year based on international accounting rules.
The bank attributed the leap in profits to the rapid increase in net interest income and earnings from intermediary services.
Its net income from interest rose 26.7 per cent year on year to 110.6 billion yuan.
The commission charges from distribution and entrusting of mutual funds and corporate intermediary businesses expanded by 88.9 per cent to 18.9 billion yuan in the January-September period.
The bank said its income from other than interest rose 32.7 per cent to 26.7 billion yuan to account for nearly ...
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Source: HighBeam Research, BANK OF CHINA POSTS 40% LEAP IN PROFITS IN FIRST NINE...