China’s Bocom Posts 0.9% Profit Gain as Impairments Fall
This article is for subscribers only.
Bank of Communications, one of China’s largest state-owned banks, said profit rose 0.9% last year as credit impairment declined, offsetting a margin contraction.
Net income climbed to 93.6 billion yuan ($12.9 billion) in 2024, according to a Friday filing. Its net interest margin, a gauge of profitability, narrowed to 1.27% from 1.28% in 2023, while its non-performing loan ratio slid to 1.31%.