Net profit at the largest Chinese state-owned bank plunged by 11.22% to CNY107.8 billion (US$15.8 billion) in the past half year compared with a year ago as its impairment losses on assets, mostly on loans and advances, doubled to CNY66.5 billion.

Net interest income was up 8.37% to CNY196.9 billion while non-interest income was down 5.17% to CNY90.1 billion partly due to ‘a decrease in net trading gains’ year-on-year (YoY). Credit cost saw the biggest fluctuation from 0.59% to 0.9% among key financial ratios while return on average equity dropped from 14.56% to 11.1% YoY. For structured deposits on-balance sheet, personal deposits rose by 37.85% to CNY585.4 billion and corporate deposits increased by 39.9% to CNY346.9 billi

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