Bank of China’s Results were Boosted by Gains on Nanyang Commercial Bank Sell-Off
Bank of China’s first-half results recorded stronger than peer growth in revenue and preprovision operating profits at 9.3% and 17%, respectively, against the year-ago period. However, the results were boosted by its one-off gains on Nanyang Commercial Bank sell-off at CNY 29.6 billion. Excluding such impact, performance was mediocre, with total revenue and pre-provision operating profits falling 3% and 2.3%, respectively. Net interest income and fee income both recorded low-single-digit decline...
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