Bank of China targets 30% of profits from overseas
Bank of China plans to "accelerate" its internationalisation with three strategies (One Belt One Road, yuan internationalisation, and corporate internationalisation), aiming to generate 30% of its profits from its overseas business longer term. The bank already operates in 46 countries along the Belt and road, with plans to reach 50 soon. While the bank's net profit attributable to shareholders for H1 2016 increased by 2.52% to CNY93bn, its net interest income declined 5.22% YoY to CNY154.9bn, with fees and commissions income down by 4.43% to CNY47.8bn. Meanwhile, over the same period, overseas net profit contribution rose 43.2%, up 22.9% on H1 2015. 

Bank of China’s net interest declined by 5.22 per cent year on year to 154.9 billion yuan in the first half. Photo: Reuters