Reuters: Bank of China books $1.3 billion subprime allowance

[chris]

Bank of China books $1.3 billion subprime allowance
      

HONG KONG (Reuters) - Bank of China , the country's flagship foreign exchange lender, posted a 31 percent rise in 2007 profit amid a booming mainland economy, but it booked a $1.3 billion allowance to cover potential losses on its U.S. subprime-related securities.
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