Bank of Communications' first half profit up 29.67%

Bank of Communications recorded a first half profit increase of 29.67 year-on-year, helped by a widened net interest margin and higher commission fees.

The bank's net profits reached 26.4 billion yuan or US$4.13 billion, up from 20.4 billion yuan one year earlier, the
company said in a statement filed to the Shanghai Stock Exchange.

Net interest income, revenues from borrowers minus interest paid to depositors, climbed 23.54 percent to 49.29
billion yuan in the first half.

Loans by the bank stood at 2.43 trillion yuan at the end of June, an increase of 8.77 percent from the beginning of the year.

The full story is available at Xinhua News