Top-Line Growth for BOC Rebounded, and Asset Quality Risks Eased
Narrow-moat Bank of China's first-half results exceeded our expectations with a significant pickup in top-line growth. Second-quarter net interest income and fee income grew 14.8% and 6%, respectively, against the year-ago period, the highest growth among large state-owned banks. BOC’s outperformance was largely attributable to the strong growth momentum of its overseas business, which represents nearly 30% of total assets, while growth in domestic corporate loans was in line with peers. Oversea...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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