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4 years ago
China's Bank of Communications Q3 net profit rises 3.4 pct, misses estimates
October 30, 2013 / 8:52 AM / 4 years ago

China's Bank of Communications Q3 net profit rises 3.4 pct, misses estimates

SHANGHAI, Oct 30 (Reuters) - China's fifth-biggest lender Bank of Communications Co Ltd posted a 3.4 percent gain in third-quarter net profit, missing analyst estimates, as margins shrank and non-performing loans rose.

Net profit rose to 13.88 billion yuan ($2.28 billion) in July-September from 13.43 billion yuan a year earlier, BoComm said on Wednesday. That compares with an average estimate of 15.08 billion yuan in a Reuters poll of four analysts.

Net interest margins fell to 2.53 percent from 2.56 percent at the end of June.

The bank's non-performing loan ratio rose to 1.01 percent from 0.99 percent at the end of the first half. ($1 = 6.0902 Chinese yuan) (Reporting by Gabriel Wildau; Editing by Ryan Woo)

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