|
BIZCHINA> Top Biz News
![]() |
|
BOC (HK) sees H1 net profit down 5.6%
(Xinhua)
Updated: 2009-08-28 10:24 Bank of China (Hong Kong) said Thursday its half-year profit fell by 5.6 percent from a year earlier, dragged lower by falling interest income amid the deepening economic downturn. The bank's net profit for the six months ending June 30 amounted to HK$6.69 billion ($0.86 billion), down from HK$7.09 billion in the same period last year. However, the bank said it represented a major improvement against the net loss of HK$3.75 billion in the second half of 2008, which can be attributed to the increase in operating income as well as the decrease in impairment charges on securities investments. Net interest income decreased by 11 percent to HK$8.93 billion as net interest margin narrowed by 27 basis points to 1.76 percent. But the net fees and commission income grew by 1.7 percent year-on-year to HK$2.95 billion driven by the rebound of the local stock market in the first half of this year.
He also said BOC (HK) would actively expand the RMB-related banking business as the sole Clearing Bank for renminbi business in Hong Kong. (For more biz stories, please visit Industries)
|
|||||
革吉县| 衡阳市| 根河市| 湘潭市| 孟津县| 抚远县| 吐鲁番市| 渭源县| 宁津县| 尼玛县| 泉州市| 双流县| 库尔勒市| 措美县| 宿迁市| 东源县| 贺兰县| 乡宁县| 太仓市| 连江县| 南陵县| 芜湖县| 双牌县| 宜昌市| 黄石市| 南平市| 吉林省| 田阳县| 吴川市| 登封市| 德惠市| 彭阳县| 阳东县| 五大连池市| 海阳市| 综艺| 西林县| 保亭| 河曲县| 修水县| 天等县|