BOC’s Third-Quarter Revenue Shrank on Net Interest Margin Pressure and Slowing Fee Income
With 2.5% net profit growth from the year-ago period, Bank of China’s third-quarter results were largely in line with our expectations. Net interest income growth fell by 9.6% against the year-ago period, versus an 8.6% drop in the second quarter due to continuous net interest margin contraction and slower growth in interest-earning assets. Fee income growth also contracted by 3.6%, but this was better than the 14% level in the previous quarter, as the bank is moving from a higher base in the se...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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