Bank of China Ltd (BoC), the country's fourthbiggest lender by assets, on Sunday posted an 11.5% fall in firsthalf net profit, the steepest drop for the JanuaryJune period since its market debut.
BEIJING/SHANGHAI: Bank of China Ltd (BoC), the country’s fourth-biggest lender by assets, on Sunday posted an 11.5% fall in first-half net profit, the steepest drop for the January-June period since its market debut.
Profit was 100.9 billion yuan ($14.70 billion) in the six months ended June 30, versus 114.05 billion yuan a year earlier, according to the lender’s statement to the Shanghai Stock Exchange on Sunday.
The first-half figure implies profit of 48.3 billion yuan for the April-June quarter, down 23.4% from 63.08 billion yuan a year prior, Reuters calculations showed.
($1 = 6.8647 Chinese yuan)
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