Bank of China's profit falls
2009-04-29 HKT 00:23
Bank of China has posted a 14-percent fall in profit for the first quarter to 18.6 billion yuan.
It set aside more money - US$380 million - for potential losses from its US mortgage investments.
The bank still holds US$2.2 billion worth of US subprime mortgage investments.
For its Hong Kong unit, first-quarter profit fell 17.5 percent to just under HK$6 billion.
The bank said its exposure to Fannie Mae and Freddie Mac was valued at HK$4.3 billion.
