BOC Hong Kong : Nine-Month Operating Profit Fell

BOC Hong Kong (Holdings) Ltd. said operating profit before impairments fell 3.9% in the first three quarters as the Covid-19 pandemic cut into business activity. Operating profit before impairments was 31.32 billion Hong Kong dollars (US$4.04 billion), the bank said Friday. The group’s net charge of impairment allowances was HK$1.93 billion. Net operating income before impairment allowances in the January-September period fell 3.0% to HK$42.94 billion, due mainly to a narrowing of interest margins, the bank said. Net fee and commission income fell 2.4% to HK$8.24 billion, largely due to the impact of the pandemic on the retail, tourism and…