BOC's net profit rose 8.2% in Q1
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E-mail China.org.cn, April 25, 2013
Bank of China (BOC), China's third-largest lender by asset value, announcedThursday that its Q1 net profit rose 8.2 percent year on year to 39.82 billion yuan (US$6.39 billion).
The growth was slower than the annual net profit increase of 12.2 percent recorded in 2012.
Net interest income climbed 10.5 percent year on year to reach 66.96 billion yuan in the first quarter, the BOC said in its fiscal report.
Non-interest income gained 12.12 percent to 38.49 billion yuan, with income from commissions and service fees surging 16.92 percent, according to the statement.
The bank's non-performing loan ratio declined by 0.04 percentage point from three months earlier to 0.91 percent at the end of March.
BOC's assets totaled 13.24 trillion yuan by the end of March 2013, up 4.43 percent from the end of 2012, while its liabilities climbed 4.41 percent to 12.34 trillion yuan.
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