According to South China Morning Post, Bank of China’s 2015 pretax profit rose 0.04 per cent to RMB 231.5 bn. The figure fell short of average analysts’ expectation of RMB 234.9 bn. BOC was dragged down by bad debt-related losses which leapt 22.5% to RMB 59bn. The bank’s overall non-performing loan ratio increased by 25 basis points to 1.43%, even as the bank had expanded the size of its balance sheet by 10% to RMB 16.8 tn. The industry average NPL ratio is currently 1.67%. 2016 will be a year of deep restructuring, BOC President Chen Siqing said.