China's Bank of Nanjing says Q1 net up over 170 pct

SHANGHAI, April 16 (Reuters) - Bank of Nanjing Co Ltd (601009.SS: Quote, Profile, Research, Stock Buzz), a Chinese partner of French lender BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz), estimated on Wednesday that net profit surged at least 170 percent in the first quarter from a year earlier.

The bank, based in China's affluent eastern province of Jiangsu, cited rising interest and fee incomes, rapidly growing value in its bond holdings and a lower corporate tax rate.

In the first quarter of last year, the bank made a profit of 151.1 million yuan ($21 million), or 0.13 yuan per share.

Listed Chinese companies are required to make preliminary estimates if they expect earnings to rise or fall more than 50 percent. Bank of Nanjing will officially publish its first-quarter earnings on April 21.

(US$1=7.00 Yuan)

(Reporting by Samuel Shen; Editing by Anne Marie Roantree)