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Bank of bad double sharp to write off bad loans in the first half $ 7 billion

State-owned big beginning 2014 interim results released. In accordance with international financial reporting standards, BOC shareholder entitlement after tax profit of 89.724 billion yuan in the first half of this year, an increase of 11.15%, basic earnings per share of 0.32 Yuan, an increase of 0.03 Yuan, relatively prominent in its financial indicators for net interest margin, 3 basis points higher than the end of last year.

Bank of slightly less than the brokerage expected overall performance increases, after guotai Junan, expected Bank earnings for the first half year grew 12%, ping an is expected to be 12.2%, but its performance of listed banks ' overall performance expectations and current market is close to currently listed banks on average in the first half of this year is widely expected to grow at no more than 12%.

many financial indicators in the Bank relatively prominent is the net interest margin. In the escalating cost of capital spreads improved pressure increases under the premise of the Bank initiative to optimize the structure of assets and liabilities, and to raise overseas earnings, half net interest margin 2.27%, 3 basis points higher than a year earlier.

Meanwhile, Bank of China maintained a fast growth in non-interest income. The first half of the Bank's non-interest income of 78.197 billion yuan, an increase of 13.39%, or 33.29% the proportion of revenues, continues to maintain a high level of net fees and commissions payments rose 14.62%.

However, as China's economic restructuring and growth is slowing, the emergence of Bank bad loans was no exception, "double up" situation. The end of June, BOC Group 85.86 billion the total amount of bad loans, increased 12.589 billion yuan over the end of last year, bad loan rate of 1.02%, up 0.06% over the previous year. However, special mention loans rate 2.28%, 0.21% lower than the end of last year, provisioning levels are quite sufficient, 217.02% coverage of provisions, foreign loans than 2.71%, the end of last year increased 9 basis points.

Bank of China Deputy Governor Zhang Jinliang said at yesterday's results announcement, industry, Bank bad loans are concentrated in manufacturing, wholesale and retail trade, transportation and light cycle industry released poor concentrated in the steel trade and shipping industries, areas are mainly in export-oriented economy in coastal areas, including Guangdong, Zhejiang and Jiangsu and other places.

current bank rate is still better than the industry average. Statistics from the CBRC show, at the end of June, Bank non-performing loan rate was 1.08%, up 0.08% than the beginning, bad loans earlier than an increase of 102.4 billion, but the CBRC executives think that performed better than the earlier dual-control expectations, keep risk line.

according to Zhang Jinliang said Bank to increase bad loan provisions in the first half, and dissolve the 27 billion yuan of bad loans in the first half, to write off $ 7 billion of bad loans.

"credit assets quality control is still under pressure in the second half, will continue to strengthen the investigation, locked in high-risk areas, and the customer in a timely manner, strengthening the platform for the real estate industry, local government risk management in full aperture, and strengthen management and credit work sheet of the table, the use of market instruments, increase the recovery rate. "Zhang Jinliang said.

is worth noting that, at its results announcement yesterday, Bank spends more time on his overseas business development. According to the semi-annual report shows first half of BOC overseas $ 765.29 billion in total assets, 21.31% over the end of last year, accounts for 27.73% total group assets. Pre-tax income of $ 4.412 billion, an increase of 35.76%, profit contribution rate is 22.22%.

in addition, at present bank capital pressures are not outstanding. As at the end, the Bank's capital adequacy ratio and core tier one capital ratio of 12.41% and 10.11% respectively, and the Bank has billions of preferred stock financing plan to be implemented.

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