Bank of China (BOC, SHSE: 601988, SEHK: 3988), one of the Big Four state lenders in the country, recorded CNY 33.439 billion in net profit and CNY 0.12 in earnings per share in the first three months this year, up 27.75 percent and CNY 0.02 over the period of last year, in terms of its quarterly results.
The bank achieved 20.23 percent in return on equity and 1.29 percent in return on assets in the three months, inching up 0.42 and 0.11 percentage points over the period of last year respectively.
Bank of China racked up CNY 53.5 billion in net interest income in the January-March period, and the figure went up by CNY 9 billion or 20 percent from the three months last year. Meanwhile, its net interest spread came to 2.11 percent, adding by 0.07 percentage points year on year.
BOC executives explain that the growth was resulted from asset-liability structure upgrade, lending pricing rise and interest rates increase by the Chinese central bank.
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