ABC (01288.HK) announced the third quarterly results for September ended 2014. The net interest income increased 13.32% year-on-year to RMB 108.355 billion. Fee and commission income dropped 8.14% year-on-year to RMB 18.073 billion. The net profit recorded a year-on-year increase of 6.07% to RMB 48.407 billion. EPS was RMB 0.15.
For the first three quarters, impairment losses on assets amounted to RMB 45.021 billion, representing an increase of RMB13.538 billion in the year-ago period. The impairment losses on loans amounted to RMB 43.046 billion. By the end of September, non-performing loans amounted to RMB103.46 billion, representing an increase of RMB15.685 billion compared with end 2013. Non-performing loan ratio was 1.29%, representing an increase of 0.07 percentage points compared to the end of 2013. Allowance
to non-performing loans reached 335.07%, representing a decrease of 31.97 percentage points compared to the end of 2013.
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