//
you're reading...
China News


China News

Bank of China, the country’s No.3 lender by market value, posted on Thursday a near 10 percent rise in first-quarter net profit but the figure fell below expectations as flat net interest margins offset a rise in fee income.

Bank of China is the first of China’s four largest banks to report earnings for the quarter which still showed the effects of Beijing’s earlier policy-tightening moves to engineer a soft-landing for the economy.

China’s annual rate of GDP growth slowed to 8.1 percent in the first three months of 2012, down from Q4 2011’s 8.9 percent.

The results could foreshadow similarly underwhelming numbers when the three remaining major banks report their results on Friday.

Bank of China is also the first ‘Big Four’ bank to report after Premier Wen Jiabao‘s comments in early April that the country’s state banks act as a monopoly that make money “far too…

View original post 532 more words

About Craig Hill

Teacher and Writer. Writing has been cited in New York Times, BBC, Fox News, Aljazeera, Philippines Star, South China Morning Post, National Interest, news.com.au, Wikipedia and others.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

If you liked what you just read, click "Subscribe" to become a follower of the Craig Hill site. You will receive an email each time a new post is published.

Join 18,420 other followers

Follow me on Twitter

%d bloggers like this: