By Martin Mou Bank of China Ltd. reported a 4.1% increase in net profit last year, supported by higher interest income and other income from fees and commissions. Net profit was 187.41 billion yuan ($26.49 billion), compared with CNY180.09 billion the previous year, while operating income rose to CNY550.01 billion from CNY503.81 billion in 2018, the state-owned lender said Friday. Bank of China said its net interest income rose to CNY374.25 billion from CNY359.71 billion and its non-interest income, including fees and commissions, grew to CNY175.76 billon. The bank's net interest margin narrowed to 1.84% in 2019 from 1.90% the previous year, but its nonperforming-loan ratio improved to 1.37% from 1.42% as of end-2018. Write to Martin Mou at martin.mou@wsj.com
The settlement house for the London Metal Exchange , known as LME Clear , announced recently that it will start accepting offshore renminbi as eligible cash collateral . The Bank of China 's London branch has become the first Chinese settlement house for the Clear , after gaining approval for the initiative from the Bank of China .