BANK of Communications Ltd, part-owned by HSBC Holdings Plc, said profit gained more than 60 percent in 2007 on higher income from lending and more revenue from fee-based services.

The company didn't disclose its net income for last year, although it said earnings were 12.55 billion yuan (US$$1.7 billion) in 2006, or 0.27 yuan per share, in a statement to the Hong Kong Stock Exchange yesterday.