China has suffered from hypothec crisis in the USA
28 January 2008Bank of China has made significant write-off of the investments connected with sector of the risky mortgage of the USA, in the fourth quarter 2007, that can lead to decrease in profit or even to losses of bank.
Bank of China, most likely, will declare about write-off in April, in the context of the report on results for 2007.
The representative of Bank in Peking has told, that in September the Bank has reduced portfolio of the actives connected with the risky mortgage, up to $7,95 billion from $9,65 billion in August.
Within the first three quarters of 2007 net profit of Bank of China has made $6,3 billion. In order to reflect decrease in fair cost of the securities connected with the risky mortgage, the Bank has also postponed $321 million as a reserve.
More and more the Chinese officials express anxiety concerning adverse consequences of crisis of the risky mortgage, refusing from recent statements that the country is basically protected from their influence.
