Banking News
- BoCom's profit up 33 percent
Date: 12-Mar-2007 Sources: (Shenzhen Daily)
BANK of Communications, China's fifth-largest lender, posted a 33 percent jump in 2006 earnings as its lending business soared.
The Hong Kong-listed bank, known as BoCom, also said it hoped to sustain 20 percent loans growth in 2007 despite the government's austerity measures. The Shanghai-based lender is aiming for a mainland stock listing before July pending regulatory approval, chairman Jiang Chaoliang said Thursday. Sources have said the lender could raise about US$2.6 billion through the listing. It had been expected to launch a roadshow in late February.
Sponsor Results:
