DJ Bank of China's First-Quarter Profit Rose on Higher Operating Income
By Ben Otto
Bank of China's first-quarter net profit rose 2.7% on higher operating income, while impairment losses fell slightly from a year earlier.
The Chinese state-owned lender posted net profit of 53.99 billion yuan (US$8.34 billion), up from CNY52.58 billion a year earlier, it said late Thursday.
Net interest income rose 3.7% to CNY104.16 billion. Non-interest income climbed nearly 12% to CNY53.71 billion, with net fee and commission income jumping 18% to CNY27.88 billion.
In all, operating income rose to CNY157.87 billion from CNY148.54 billion a year earlier.
The bank posted CNY32.36 billion in impairment losses on assets, down 0.6% on year.
Its nonperforming-loan ratio at the end of March was 1.30% compared with 1.46% at the end of 2020, while its capital adequacy ratio fell to 15.7% from 16.2%.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
April 29, 2021 21:31 ET (01:31 GMT)
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