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Banque Pour Le Commerce Exterieur Lao Public posts 88% YOY rise in FY'16 profit

Banque Pour Le Commerce Exterieur Lao Public posted an 88.0% year-over-year increase in profit after tax for full-year 2016 as net operating income surged.

The bank on Jan. 11 reported an increase in full-year profit after tax to 225.92 billion kip from 120.16 billion kip.

Net interest and similar income climbed to 629.42 billion kip from 350.71 billion kip. Fee and commission income rose to 128.43 billion kip from 109.17 billion kip.

Net operating income grew to 800.46 billion kip from 204.75 billion kip.

Net specific provision charges for loans to customers rose to 76.61 billion kip from 57.41 billion kip.

As of Jan. 12, US$1 was equivalent to 8,079.74 Lao kip.