October 30, 2019 / 10:02 AM / 14 days ago

Bank of China Q3 net profit up 3%, below estimates

BEIJING/SHANGHAI, Oct 30 (Reuters) - Bank of China Ltd (BoC) , the country’s fourth-biggest lender by assets, reported on Wednesday a 3.04% rise in third-quarter net profit.

Profit for the July to September period was 45.5 billion yuan ($6.45 billion) for BoC, the most internationalised Chinese bank that handles about a quarter of cross-border renminbi settlements on the mainland, compared with 44.19 billion yuan in the same period a year earlier.

The result missed the estimate of 3.95% average profit growth estimate of two analysts, according to data compiled by Reuters.

$1 = 6.9597 Chinese yuan renminbi Reporting by Engen Tham in Shanghai and Cheng Leng in Beijing; Editing by Muralikumar Anantharaman and Louise Heavens

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