BOC profit growth slips in Q3 amid hous­ing slump

China Daily (Canada) - - BUSINESS -

Bank of China Ltd, the na­tion’s fourth-largest lender, posted its weak­est quar­terly profit growth in two years as a hous­ing slump ex­ac­er­bated a slow­down in the econ­omy. Third-quar­ter net in­come in­creased 4.9 per­cent to 41.4 bil­lion yuan ($6.8 bil­lion), ac­cord­ing to aHong Kong ex­change fil­ing on Thurs­day. That com­pared with the 42.7 bil­lion yuan me­dian of 11 es­ti­mates in a BloombergNews survey. The cen­tral bank has pro­vided cash to in­di­vid­ual lenders to support growth, while avoid­ing any across­the-board cut in in­ter­est rates or re­serve ra­tio re­quire­ments.

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