China’s Bocom sees profits slow down

China’s Bank of Communications said on Thursday that profits for the second quarter of the year hit 18.35 billion yuan, growing by about 1.5 per cent over the same period a year earlier.

Profit growth for the same period a year earlier was 5.6 per cent.

The commercial bank, China’s fifth largest by assets, said its non-performing loan ratio increased only modestly during the quarter, hitting 1.35 per cent, or a 5-basis-point uptick since the end of March.