BOC’s Top-Line Growth Was Weak While Credit Quality Outlook Was also Mixed
Bank of China's, or BOC's, 2016 results saw weaker growth than peers, with a 3.7% net profit decline despite a 2% revenue growth from 2015. Core revenue including net interest income and fee income both seeing contraction, which fell 6.9% and 4.1%, respectively. The revenue growth was boosted by the CNY 29,980 million transaction gains of the sales of Nanyang Commercial Bank which was recorded as investment return. Thanks to BOC’s diversified financial business, other business revenue grew 11%, ...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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