October 30, 2018 / 9:19 AM / a year ago

China's AgBank Q3 net profit up 8.6 pct, beats estimates

BEIJING/SHANGHAI, Oct 30 (Reuters) - Agricultural Bank of China Ltd (AgBank) , the country’s third-biggest lender by assets, on Tuesday reported a better-than-expected 8.6 percent rise in third-quarter net profit as non-performing loans marginally fell.

AgBank’s net profit for the July-September period was 55.82 billion yuan ($8.02 billion), against 51.4 billion yuan in the same period a year ago.

That compared with the 6.9 percent average growth in third quarter net profit estimated by three analysts surveyed by Reuters.

AgBank said its non-performing loan ratio fell slightly to 1.60 percent at the end of September from 1.62 percent at the end of June.

The lender did not publish its net interest margin. ($1 = 6.9589 Chinese yuan renminbi) (Reporting By Shu Zhang in Beijing and Engen Tham in Shanghai; Editing by Vyas Mohan)

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