Bank of China Sees Fastest Annual Profit Growth Since 2013

(Bloomberg) — Bank of China Ltd. reported its biggest profit increase in almost a decade last year as lending momentum recovered in the second year of the pandemic and a build-up in bad loans eased.

Net income jumped 12.3% from a year earlier to 216.6 billion yuan ($34 billion) in 2021, the lender said in a filing. That beat a median estimate of 209.8 billion yuan and marks the fastest profit growth since 2013.