Bank of Communications (OTCMKTS:BCMXY) Issues Quarterly Earnings Results

Bank of Communications (OTCMKTS:BCMXY) issued its earnings results on Friday. The bank reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.07, Zacks reports. Bank of Communications had a return on equity of 7.91% and a net margin of 19.23%. The business had revenue of $10.65 billion during the quarter, compared to analyst estimates of $10.65 billion.

Bank of Communications Price Performance

BCMXY stock opened at $24.64 on Friday. The business has a 50-day moving average price of $25.32 and a 200 day moving average price of $22.65. The company has a market capitalization of $73.19 billion, a P/E ratio of 6.83 and a beta of -0.04. Bank of Communications has a 1-year low of $19.89 and a 1-year high of $27.35.

About Bank of Communications

Bank of Communications Co, Ltd. is a Chinese commercial bank headquartered in Shanghai. Established in 1908, it is one of China’s oldest banking institutions and has developed into a large, diversified financial services group serving individuals, businesses, government-related organizations and institutional clients.

The bank provides personal and corporate banking services, including deposits, loans, payments, settlement, credit cards and wealth management. Its broader offerings include investment banking, asset management, financial markets and treasury services, as well as financing and advisory solutions for corporate and institutional customers.

Bank of Communications serves customers through a nationwide branch and digital banking network in mainland China and maintains an international presence through operations and subsidiaries in markets that include Hong Kong and other overseas financial centers.