Bank of China First-half Profit Falls 11.5%, Steepest First Half Fall Since Market Debut​

An illuminated sign for the Bank of China is displayed outside a branch in central Sydney, Australia, April 7, 2016. REUTERS/David Gray

BEIJING/SHANGHAI (Reuters) - Bank of China Ltd (BoC) <601988.SS> <3988.HK>, the country's fourth-biggest lender by assets, on Sunday posted an 11.5% fall in first-half net profit, the steepest drop for the January-June period since its market debut.

Profit was 100.9 billion yuan in the six months ended June 30, versus 114.05 billion yuan a year earlier, according to the lender's statement to the Shanghai Stock Exchange on Sunday.

The first-half figure implies profit of 48.3 billion yuan for the April-June quarter, down 23.4% from 63.08 billion yuan a year prior, Reuters calculations showed