|Bank of China posts 156b yuan earnings
Beijing-based Bank of China (3988), which listed in Hong Kong in 2006, said today earnings for the year ended December 31, 2013, grew by 12.3 percent to 156.9 billion yuan for 2013, compared with 139.4 billion yuan a year earlier.
Earnings per share were 0.56 fen, up by 0.06 fen.
Return on average total assets increased to 1.23 percent, up by 0.04 percentage point compared with the previous year, Chairman Tian Guoli said.
Net interest margin increased by 9 basis points year-on-year to 2.24 percent.
Net interest income was 283.585 billion, up by 10.36 percent on year, the bank said.
Non-interest income grew by 13.47 percent, accounting for 30.41 percent of the group’s total operating income, up 0.58 percentage point year-on-year.
Cost of risk was effectively controlled, the bank said. Credit cost was 0.32 percent, and "remained at a fairly low level.'' –The Standard