BOCOM’s Results for the First Three Quarters Reflect Rising Expense Pressure
Bank of Communications', or BOCOM’s, results for its first three quarters were largely in line, with 1.0% year-on-year net profit growth against the year-ago period. Top-line growth inched up 0.6%, dragged by a 6.7% decline in net interest income, partially offset by 5.4% fee income growth and 60% growth in other income, stemming from fast growth in investment income and insurance business income. The bank’s cost/income ratio rose 132 basis points to 19.89% from the previous quarter. Management ...Bank of Communications is engaged in the provision of banking and related financial services. Co. organizes its business into four segments: retail banking, corporate banking, treasury and others. Corporate banking comprises corporate loans, bills, trade finance, corporate deposits and remittance. Retail banking comprises retail loans, retail deposits, credit card and remittance. Treasury comprises money market placements and takings, investment in securities, and securities sold subject to linked repurchase agreements. Co. has 113 domestic branches and 2,648 outlets in the People's Republic of China, 9 overseas institutions and 2 representative office in London and Sydney.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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