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...BANK OF CHINA LIMITED is a China-based commercial bank. The Bank is mainly engaged in the provision of banking and related financial services, including commercial banking business, investment banking business, insurance business, direct investments and investment management businesses, fund management business and aircraft leasing business, as well as others. The Company mainly provides loans to individual and corporate clients. The Bank mainly operates its businesses in China mainland, Hong Kong, Macau and Taiwan, as well as other countries.
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