Bank of Communications Q1 Profit Rises 3.1% to 26.1B Yuan
The lender reported a net profit of 26.126 billion yuan for the first quarter, matching analyst estimates. Net interest margins improved to 1.23 percent.
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BANK OF COMMUNICATIONS CO-H reported a 3.1% rise in first-quarter net profit to 26.126 billion yuan ($3.82 billion) on Wednesday morning. The result matched the 26.159 billion yuan average estimate from four analysts compiled by Reuters. Improved deposit pricing supported margins even as non-performing loans in China edged higher during the period.
