China's Bank of Communications H1 net profit up, bad loan ratio improves

Source: Xinhua | 2018-08-24

The Bank of Communications, one of China's largest commercial banks, posted a rise in its first-half net profits, with its bad loan ratio improving slightly.

The bank's net profit rose 4.6 percent to 40.77 billion yuan (about 6 billion U.S. dollars) in the first half, it said in its H1 financial report to the Shanghai Stock Exchange Thursday.

Its non-performing loan ratio stood at 1.49 percent at the end of June, slightly down from 1.5 percent at the beginning of the year and below the average 1.86-percent non-performing loan ratio at the end of June at the country's commercial banks.

Business revenue went down 1.78 percent from a year earlier to 101.87 billion yuan for the January-June period.

By the end of June, the bank's total assets amounted to 9.32 trillion yuan, up 3.15 percent from the end of last year.