The Hong Kong-listed arm of big state-owned lender Bank of Communications has seen its profits and revenues hit record highs following a bumper performance in the first half of 2021, and a surge in investment banking operations.
BOCOM International saw total revenues of HKD1.19 billion in the first half of 2021, for a YoY rise of 18.9%. Net profits were HKD572 million, for a YoY rise of 105.1%.
The bank’s ROE was 15.06%, for a YoY increase of 6.51 percentage points.
BOCOM International said that in the first half of 2021 it had “responded to a complex and changing external environment, maintaining a balance between asset operations and licensed operations.
Revenues from investment banking operations in the first half of 2021 saw an increase of 80.5% compared to the same period last year, with the underwriting of 14 IPO’s and 75 bond issues.