Bank of China Slumps as Lender Lags Peers in Taming Bad Loans
- Lender’s NPL ratio rose in third quarter as rivals’ improved
- Stock downgraded at Bocom International, Huatai Securities
A Bank of China branch in Chengdu.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Bank of China Ltd. shares slumped the most in almost four months in Hong Kong after the lender failed to report the same improvements in asset quality as its rivals.
The stock lost 3.2 percent to HK$3.90 as of 11:16 a.m. local time, paring its rally this year to 13 percent. Bocom International Holdings Co. and Huatai Securities Co. downgraded Bank of China after its results Monday revealed a jump in impairment losses and a higher nonperforming-loan ratio. Its biggest rivals reduced their NPL ratios.