Despite solid returns on lending and fee income, the 42.8pc rise in earnings lags rivals'
Bank of China paid the price for its high exposure to the global market as profit growth in the first half significantly lagged that of its rivals.
Moreover, future earnings could slow as the global economy weakens and problem loans rise.
Nevertheless, net earnings at the country's third-largest lender soared to 42.18 billion yuan (HK$48.23 billion), as healthy returns on lending and rising fee income offset losses on United States securities holdings.
BOC booked year-on-year profit growth of 42.78 per cent in the first half, compared with gains of 57.25 per cent at Industrial and Commercial Bank of China and 71 per cent at China Construction Bank Corp.
'We have had an overall satisfactory operating environment so far this year,' said BOC chairman Xiao Gang. 'But we have also seen the emergence of more risk factors and uncertainties.'