Bank of China announces $13.93 billion profit in first half of 2016

Pedestrians walk past a Bank of China sign at its branch in Beijing, March 26, 2013. [Photo/Agencies]

Bank of China Ltd announced on Thursday a profit attributable to equity holders of 93.04 billion yuan ($13.93 billion) for the first six months of 2016, increasing by 2.52 percent year-on-year.

As of the end of June, the bank's total assets amounted to 17.6 trillion yuan. Its nonperforming loan ratio was 1.47 percent in the first half of this year. The bank's domestic institutions stepped up efforts on NPLs resolution, resolving 63.78 billion yuan of distressed assets, up 46.78 percent year-on-year.

BOC continued to promote its overseas business development during the first six months. Its overseas institutions realized a profit before tax of $8.57 billion, rising 84.16 percent year-on-year and representing 43.22 percent of its total profit before tax.

Contact the writer at jiangxueqing@chinadaily.com.cn