BOC Hong Kong Q3 operating income improves 9.4%

Driven by rise in net income, net fees and commissions.

BOC Hong Kong said its net operating income before impairment allowances amounted to $29.522 billion, up 9.4% on-year. The rise in net interest income was mainly due to the growth in customers' loans and investment in debt securities and the improvement in the interest spread between loans and savings.

The bank’s operating profit before impairment allowances came to $20.842 billion, up 10.1%. Operating profit for the third quarter was $6.743 billion, down 5.1% from the previous quarter.