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BoC Profits Up 4% YoY, Loans Up 43%
Bank of China (3988.HK, 601988.SH) booked net profits attributable to equity holders of RMB 65.23 billion in the first nine months of this year, up 3.82% year-on-year, the bank announced October 29. Bank of China's net interest income over the third quarter hit RMB 40.89 billion, bringing its nine month total to RMB 115.610 billion, a decrease of 5.43% compared with the same period last year. The bank's non-investment income, which accounted for 31.49% of its operating income in the first nine months of this year, fell 3.81% year-on-year, though fee and commission income over the period rose 8.39% annually to RMB 34.51 billion.
As at September 30, the company held total assets of RMB 8.34 trillion, up 19.95% compared with the end of 2008, with loans expanding 42.63% over the period, while total liabilities reached RMB 7.82 trillion, up 20.99%, with deposits growing 25.49%. The bank noted its capital adequacy ratio stood at 11.63%, down 1.8 percentage points from the end of last year.
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