Banking News
- BOC forecasts net profits up 50 percent in 2006
Date: 20-Mar-2007 Sources: (Xinhua Online)
The Bank of China (BOC) has forecast that its net profits in 2006 were up by more than 50 percent on the previous year's total of 27.49 billion yuan, China Securities News reported on Monday.
The BOC's net profits in the first three quarters of 2006 totaled 32.46 billion yuan, the bank said in a statement last year.
Analysts attributed the growth to the rapid increase of its net interest income - the difference between its revenues from loans and the cost of servicing its liabilities - and intermediate business.
The BOC will release its annual results on Thursday. The bank is the second largest lender in China and is listed on the Shanghai and Hong Kong stock exchanges.
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