Bank of China, the nation''s third-largest bank, said that first-quarter profit increased as loan growth countered losses tied to U.S. subprime mortgages. Net fee and commission income grew by 82.93% from a year ago to Rmb9.454 billion, driving the net interest income up by 18.74%. Domestic fee and commission income in the period rose by 115.58% from a year earlier. The Bank cut holdings of subprime-related securities to $4.4 billion in March from $4.99 billion at the end of last quarter. |
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