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China's AgBank H1 profit rises 12.6 pct, within estimates
August 26, 2014 / 8:27 AM / 3 years ago

China's AgBank H1 profit rises 12.6 pct, within estimates

SHANGHAI/HONG KONG, Aug 26 (Reuters) - Agricultural Bank of China Ltd , the country’s third largest lender, posted on Tuesday a 12.6 percent increase in first-half earnings, in line with analysts’ estimates.

AgBank said it made a net profit of 104 billion yuan ($16.91 billion) in the January-June period, up from 92.4 billion yuan a year earlier. The result was in line with the 104.3 billion yuan forecast made in a Reuters poll of analysts.

In the second quarter, the bank made a net profit of 50.57 billion yuan, according to Reuters calculations based on company figures, up 11.5 percent on the same period last year. ($1 = 6.1520 Chinese yuan) (Reporting By Engen Tham in SHANGHAI and Lawrence White in HONG KONG)

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