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Markets News

China's AgBank posts 4.6% third-quarter profit drop

BEIJING/SHANGHAI, Oct 30 (Reuters) - Agricultural Bank of China Ltd (AgBank) , the country’s third-biggest lender by assets, on Friday reported a 4.6% drop in third-quarter net profit as the coronavirus pandemic continued to hurt margins.

The bank’s July-September net profit was 56.5 billion yuan ($8.4 billion), down from 59.23 billion yuan a year earlier, it said in a Shanghai Stock Exchange filing. ($1 = 6.7024 Chinese yuan renminbi) (Reporting by Cheng Leng and Zhang Yan in Beijing and Engen Tham in Shanghai Editing by Himani Sarkar and David Goodman )

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