Bank of Comms Co (OTC:BCMXY) Stock, Quote.Headers.trade-ideas

Bank of Comms Co

Bank of Communications, or Bocom, is the only state-owned bank with headquarters in Shanghai. As one of China's four oldest banks, Bocom became China's first state-owned shareholding commercial bank in 1987. Today, Bocom is amid a strategic transformation, building itself into a global wealth-management bank with wide-ranging financial operations, including insurance, brokerage, trust, and asset management.

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Earnings

Bank of Communications Profit Increases 7%

BANK OF COMMUNS UNSP/ADR by Bank of Communications Co. Ltd.

Bank of Communications Co Ltd

Bank of Communications (OTC: <a class="ticker" href="/stock/bcmxy#OTC">BCMXY</a>) reported a 7% increase in its 2013 net profit.

The bank's net profit for the period rose to 62.3 billion yuan ($10.2 billion), versus CNY58.37 billion, in the year-ago period. Analysts projected a profit of CNY62.39 billion.

Its net interest income jumped 9% y/y to CNY130.66 billion, while fee and commission income climbed 24% y/y to CNY25.97 billion.

The bank's net interest margin declined to 2.52 percentage points compared to 2.59 percentage points.

Bank of Communications Co (OTC: <a class="ticker" href="/stock/bcmxy#OTC">BCMXY</a>) reported a 30% rise in its 2011 net profit.

BoCom's net profit for the period climbed to CNY50.74 billion ($8.1 billion), versus CNY39.04 billion, in the year-ago period. However, analysts were expecting a net profit of CNY48.01 billion. 

BoCom's net interest income surged 21% to CNY102.6 billion.

BoCom 2011 Net Profit Surges 30%

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Bank of Comms Co

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Bank of Comms Co (OTC:BCMXY) Stock, Quote.Headers.trade-ideas

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