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Bank of Communications H1 profit up 18%

08-31-2012 11:06 BJT

BEIJING - Bank of Communications said Thursday that its first-half profits rose 17.78 percent year-on-year thanks to increases in net interest incomes and commission fees.

Net profits under International Financial Reporting Standards hit 31.09 billion yuan ($4.93 billion) for the first half, the country's fifth-largest lender said.

Net interest incomes, revenue from borrowers minus interest paid to depositors, climbed 17.79 percent from one year earlier to 58.39 billion yuan during the first six months.

Income from fee-based services and commissions gained 12.36 percent year-on-year to 10.96 billion yuan.

The lender's total assets hit 5.15 trillion yuan at the end of June, up 11.73 percent from the start of the year. Its core adequacy ratio stood at 9.58 percent at the end of June.

The bank said it will closely monitor the country's economic trends and strengthen risk management during the rest of the year as it faces fresh challenges.

Chinese banks' H1 performance

ICBC says H1 profits up 12.5%

China CITIC Bank H1 profits rise 29%

China Everbright Bank H1 profits surge 40%

CCB still faces tough 2nd half

Minsheng Bank H1 profit surges 36.9%

Bank of China H1 profit up 6.8%

Agricultural Bank of China H1 profits up 20%

Q2 bank earnings to signal end of easy profits

 

Editor:James |Source: China Daily

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