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Bank of East Asia's China ops see first-ever loss

Net profit slid 33% as bad debts rise on mainland

From left, Bank of East Asia executives Adrian David Li Man-kiu, David Li Kwok-po and Brian David Li Man-bun discuss 2016 financial results on Feb. 17. (Photo by Joyce Ho)

HONG KONG -- Bank of East Asia reported a 33% slide in net profit for 2016 as mounting bad debts on the Hong Kong company's mainland book took a heavy toll, driving the first net loss for the bank's China arm since its formation in early 2007.

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