Bank of Communications profit decline narrows
Source: Xinhua | 2020-11-02
The Bank of Communications, one of China's largest commercial banks, saw narrowing profit decline and growing revenue in the first three quarters of the year as the country's economy recovers and consumption rebounds.
The bank's net profits for the January-September period totaled 52.71 billion yuan (7.84 billion U.S. dollars), down 12.36 percent year on year, narrowing from the 14.61-percent decline in H1, the bank said in a report filed with the Shanghai Stock Exchange.
Its revenue rose 5.16 percent year on year to 185.39 billion yuan in the first nine months.
By the end of September, the bank's total assets amounted to 10.8 trillion yuan, up 8.98 percent compared with the end of 2019.
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