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Banque Pour Le Commerce Exterieur Lao H1 net profit up 14.9% YOY

Banque Pour Le Commerce Exterieur Lao Public posted a 14.9% year-over-year increase in net profit for the six months to June 30.

The bank's net profit for the first half rose to 232.98 billion Lao kip from 202.74 billion kip in the prior-year period. EPS increased to 1,122 kip from 976 kip, according to a document recently obtained by S&P Global Market Intelligence.

Net interest and similar income grew to 497.95 billion kip from 449.70 billion kip, while net fee and commission income slipped to 106.04 billion kip from 108.86 billion kip.

Operating income clocked in at 694.89 billion kip, up from 613.10 billion kip in the prior-year period. Net operating income fell to 570.40 billion kip from 571.65 billion kip.

The bank booked 1.86 billion kip in additional of impairment losses of financial investments, down from 10.74 billion kip a year earlier.

As of Sept. 11, US$1 was equivalent to 8,800.30 Lao kip.