March 31, 2017 / 8:48 AM / 8 months ago

BRIEF-Bank of China says FY net profit RMB 164.58 bln

March 31 (Reuters) - Bank Of China Ltd

* fy net profit rmb 164,578 million versus rmb 170,845 million a year ago

* in 2016, group achieved a net interest income of rmb306.048 billion, a decrease of rmb22.602 billion or 6.88%

* as at dec 31, capital adequacy ratio was 14.28 percent versus 14.06 percent a year ago

* in 2016, group’s net interest margin was 1.83%, a decrease of 29 basis points compared with prior year

* as at dec 31, npl ratio was 1.46 percent versus 1.43 percent a year ago

* board of directors has recommended a final dividend on ordinary shares for 2016 of rmb0.168 per share (before tax)

* Bank of china ltd - domestic and international economic situation will remain complicated in 2017

* china’s economy is in a critical transition period, shifting from old to new growth drivers and experiencing structural challenges.

* “bank will endeavour to achieve stable and moderate credit growth and rmb loan of its domestic operations is expected to increase by 10% in 2017.”

* “bank will also maintain deposit business as a core business, in a bid to provide stable sources of funding for development of its asset business.”

* "bank will seek progress in mitigation of npas while maintaining stable asset quality" Source text:(bit.ly/2nGuWs6) Further company coverage:

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