Bank of Communications, the country's fifth-biggest lender by assets, said Thursday its first-half profits rose 29.67 percent year-on-year, helped by a widened net interest margin and higher commission fees.
Net profits hit 26.4 billion yuan (4.13 billion U.S. dollars), 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.
Net interest margin expanded to 2.54 percent, up 11 basis points from a year earlier.
Income from fee-based services and commissions surged 40.97 percent year-on-year to 10.04 billion yuan.
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 statement said.
The lender's total assets reached 4.34 trillion yuan at the end of June with core capital adequacy ratio standing at 9.41 percent.
Shares of the lender shed 1.26 percent to close at 4.7 yuan.
Net profits hit 26.4 billion yuan (4.13 billion U.S. dollars), 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.
Net interest margin expanded to 2.54 percent, up 11 basis points from a year earlier.
Income from fee-based services and commissions surged 40.97 percent year-on-year to 10.04 billion yuan.
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 statement said.
The lender's total assets reached 4.34 trillion yuan at the end of June with core capital adequacy ratio standing at 9.41 percent.
Shares of the lender shed 1.26 percent to close at 4.7 yuan.
