Bank of China Profit Up 10

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Earnings Analysis:

Bank of China Profit Up 10%

Author: 123jump.com Staff
123jump.com
Last Update: 2:34 PM EDT March 25 2008

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Bank of China, thir largest bank, reported 2007 profit increased 10.3% to HK$15.44 billion after it reported a rise in customer deposits. Earnings per share increased to HK$1.46 from HK$1.33. Total assets at the bank increased 15% to record HK$1.07 trillion. The bank expects to pay toal dividend of HK$0.91 in 2007. The company lowered its exposure to subprime loans $5 billion from $7.9 billion in the third quarter. The news of the lower exposure lifted the stock in Hong Kong trading.

The Bank’s market capitalisation at the end of 2007 was US$197.8 billion, making it the fourth largest listed bank in the world.

At the end of 2007, the investment securities of BOC declined 9.49% from last year to Rmb1.71 trillion. By the end of 2007, the investment in US sub-prime asset backed securities declined to US$4.990 billion, accounting for 2.13% of total investment securities.

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