BOC audit findings won't affect financial results
26 June 2007
The Bank of China (BOC), the nation's second largest bank, has said its overall performance and financial results will be unaffected by the cases of irregularities and violations of rules revealed in last year's government audit, Xinhua reported (in Chinese). The lender said problems uncovered mostly dated back to before the bank underwent shareholding reforms in 2004, adding that the majority of loans involving compliance breaches had been recovered, disposed or settled, and preparations had been made in previous years for deduction of the other non-performing loans. The National Audit Office said the report of the BOC audit finding would be publicly available sometime after July.