August 28, 2018 / 8:53 AM / 3 months ago

China's AgBank H1 profit rises 7 pct

BEIJING, Aug 28 (Reuters) - Agricultural Bank of China Ltd (AgBank), the country’s third-largest lender, on Tuesday reported a nearly 7 percent rise in first-half net profit.

AgBank, the first of the so-called Big Four Chinese state lenders to report interim results, said net profit for the first six months of the year totalled 115.8 billion yuan ($16.85 billion), versus 108.6 billion yuan a year earlier.

This implies a net profit of 57.1 billion yuan for the second quarter, up 8 percent from 52.9 billion yuan a year ago.

Four analysts on average had forecast a 6.5 percent quarterly profit growth, data compiled by Thomson Reuters shows. ($1 = 6.8740 Chinese yuan) (Reporting By Shu Zhang and Engen Tham; Editing by Himani Sarkar)

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