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Bank of China net profit up 2.92 pct in 2020

Abstract : The Bank of China (BOC), one of the country's four big state-owned lenders, saw its net profit up 2.92 percent year on year in 2020.

BEIJING, March 30 (Xinhua) — The Bank of China (BOC), one of the country’s four big state-owned lenders, saw its net profit up 2.92 percent year on year in 2020.

The bank last year raked in a total of 192.9 billion yuan (about 29.39 billion U.S. dollars) in net profit, beating market expectations, according to the bank’s report filed with the Shanghai Stock Exchange.

Its revenue rose by 2.98 percent year on year to hit 565.53 billion yuan during the same period, said the report.

BOC in 2020 continued its efforts in inclusive finance, noted the report. The bank’s outstanding inclusive finance loans to small businesses climbed by 48 percent by the end of 2020 from the previous year to over 4.61 trillion yuan.

Meanwhile, the lender’s non-performing loan ratio last year came in at 1.46 percent, 0.09 points higher from 2019. Enditem

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Source: Bank of China net profit up 2.92 pct in 2020

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