October 30, 2018 / 9:19 AM / a month 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below