April 27, 2017 / 1:59 PM / 4 months ago

BRIEF-Bank of Ningbo's net profit up in Q1 and 2016, plans private placement

April 27 (Reuters) - Bank Of Ningbo Co Ltd

* Says 2016 net profit up 19.4 percent y/y, Q1 net profit up 16.2 percent y/y

* Says it aims to raise up to 10 billion yuan ($1.45 billion) in private placement of shares to boost core tier-1 capital

Source text in Chinese: bit.ly/2oPrIAD; bit.ly/2oA0mTf; bit.ly/2plE9p0

Further company coverage: ($1 = 6.8940 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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