Business / Companies

Bank of China announces $13.93b profit in H1

By Jiang Xueqing ( Updated: 2016-08-30 17:27

Bank of China Ltd announced a profit attributable to equity holders of 93.04 billion yuan ($13.93 billion) for the first six months of 2016 on Thursday, increasing by 2.52 percent year-on-year.

As of the end of June, the bank's total assets amounted to 17.6 trillion yuan. Its nonperforming loan ratio was 1.47 percent in the first half of this year. The bank's domestic institutions stepped up efforts on NPLs resolution, resolving 63.78 billion yuan of distressed assets, up 46.78 percent year-on-year.

BOC continued to promote its overseas business development during the first six months. Its overseas institutions realized a profit before tax of $8.57 billion, rising 84.16 percent year-on-year and representing 43.22 percent of its total profit before tax.

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