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Bank of China sees 7.58% rise in H1 profit

Aug. 24, 2012 (China Knowledge) - Bank of China (BOC) <601988><3988>, the largest foreign exchange lender in China, said yesterday that its net profit attributable to shareholders of the parent company grew 7.58% YoY to RMB 71.60 billion in the first half of this year.

The lender's operating revenue hit RMB 179.63 billion in the first six months, up 8.13% YoY. Net interest income rose 13% YoY to RMB 124.05 billion in the period, and non-interest income surged 30.94% YoY to RMB 55.57 billion.

The bank saw its net interest margin fall 0.01 percentage points to 2.10% in H1, due in part to widened floating bands for deposit and loan rates.

At the end of June, the bank's total assets had increased 8.42% YoY to RMB 12.83 trillion.

Capital adequacy ratio and core capital adequacy ratio was 13.00% and 10.15% at the end of June, up 0.02 and 0.07 percentage points from the end of last year, respectively.

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