BoCom (03328) 9-month net profit up 1% to Rmb52.58bn

    Bank of Communication (BoCom) (03328) said its net profit attributable to shareholders of the parent company for the first nine months of 2016 rose 1.03% year-on-year to Rmb52,578 million.
  Basic and diluted earnings per share were Rmb0.7.
  Net interest income dropped 6.68% on a year-on-year basis to Rmb100.764 billion. The group's net interest margin was 1.91%, with a decrease of 33 basis points on a year-on-year basis.
  As at the end of the reporting period, the balances of impaired loans increased by Rmb5.168 billion from the beginning of the year to Rmb61.374 billion, the impaired loan ratio increased by 0.02 percentage point from the beginning of the year to 1.53%, the provision coverage ratio of impaired loans decreased by 5.26 percentage points from the beginning of the year to 150.31%, and the provision ratio of total loans decreased by 0.06 percentage point from the beginning of the year to 2.29%.
  The Group has capital adequacy ratio of 14.17%,Tier 1 Capital adequacy ratio of 12.30%, and the Core Tier 1 Capital adequacy ratio of 11.10%, all have fulfilled the regulatory requirements.
  For the third quarter of 2016, BoCom's net profit attributable to shareholders grew 1.37% year-on-year to Rmb14,917 million.