Bank of China beats es­ti­mates with Q1 prof­its

China Daily (Canada) - - BUSINESS -

Bank of China, the coun­try’s fourth-largest lender by mar­ket value, said on Thurs­day that first-quar­ter net profit beat es­ti­mates, in­creas­ing 13.9 per­cent as net in­ter­est mar­gins widened and cap­i­tal ad­e­quacy rose. Net profit rose to 45.4 bil­lion yuan ($7.28 bil­lion) in the first quar­ter, up from 39.8 bil­lion yuan in the same 2013 pe­riod, ac­cord­ing to the bank’s unau­dited fi­nan­cial state­ment. To­tal cap­i­tal ad­e­quacy rose sharply to 12.95 per­cent, com­pared with 12.46 per­cent by the end of De­cem­ber last year.

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