BOCOM’s Management Remains Cautious on Credit Quality Trend
Bank of Communications, or BOCOM, registered 0.9% year-on-year growth in first-half net profit. Top-line growth declined to 6.8%, dragged by a 4.1% decline in net interest income and 8.1% fee income growth, partially offset by 125% growth in other revenue, mainly from its insurance business. The result highlighted BOCOM’s continuous efforts in optimizing its credit portfolio and investment portfolio, resulting in a satisfactory capital ratio despite relatively strong asset growth. Credit quality...
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