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Bank of Taiwan's 2017 net profit plunges on lower noninterest income

Bank of Taiwan's net profit for 2017 declined sharply due to lower noninterest income.

The lender's net profit dropped 41.07% to NT$10.40 billion from NT$17.65 billion in 2016, while basic EPS was NT$1.10 per share, down from NT$1.86 per share.

Net interest income declined for the third straight year to NT$25.52 billion from NT$26.04 billion in 2016 and NT$28.41 billion in 2015, while noninterest income plunged 59.46% to NT$7.56 billion from NT$18.66 billion in 2016.

Bank of Taiwan attributed the decline of its noninterest income to a decline in the share of profit of associates accounted for using equity method.