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Bank of China Q3 net profit flat, bad loans rise
October 30, 2017 / 9:19 AM / in 23 days

Bank of China Q3 net profit flat, bad loans rise

BEIJING, Oct 30 (Reuters) - Bank of China Ltd (BoC) , the country’s fourth-biggest lender by assets, reported flat third-quarter net profit as bad loans rose.

Profit for the June to September period was 41.8 billion yuan ($6.3 billion), compared with 41.8 billion yuan in the same period a year earlier.

The result was well below the 8.8 percent average profit growth estimate of four analysts, according to data compiled by Reuters.

BoC’s net interest margin, the difference between interest earned on loans and that paid out to depositors, rose slightly to 1.85 percent from 1.84 percent at end-June.

Its non-performing loan ratio rose to 1.41 percent at end-September from 1.38 percent three months ago. ($1 = 6.6455 Chinese yuan) (Reporting by Shu Zhang and Engen Tham; Editing by Jacqueline Wong)

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