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Financials

China BoCom's Q1 profit rises 4 pct, slightly below estimates

SHANGHAI/BEIJING, April 27 (Reuters) - China’s Bank of Communications Co Ltd (BoCom) said on Friday net profit rose 4 percent in the first quarter of 2017.

Profit at China’s fifth-biggest bank rose to 20.09 billion yuan ($3.17 billion) in the three months through March from 19.32 billion yuan in the same period a year earlier, the bank said in a statement.

That was slightly below an average estimate of a 4.6 percent increase from 3 analysts polled by Thomson Reuters.

BoCom’s non-performing loan ratio was at 1.50 percent at end-March, flat from 1.50 percent at end-December.

$1 = 6.3444 Chinese yuan Reporting by Engen Tham in Shanghai and Shu Zhang in Beijing; Editing by Jacqueline Wong

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