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China's BoCom Q4 profit up slightly, beats analysts' estimate
March 28, 2017 / 8:46 AM / 8 months ago

China's BoCom Q4 profit up slightly, beats analysts' estimate

SHANGHAI, March 28 (Reuters) - Bank of Communications Co Ltd (BoCom), China’s fifth-largest listed bank by assets, reported a 1 percent rise in quarterly net profit amid a margin squeeze.

BoCom on Tuesday posted a net profit of 14.63 billion yuan ($2.12 billion) for the quarter ended December 2016, versus 14.49 billion yuan a year ago, according to a Reuters calculation based on the company’s full-year figures.

That was slightly above an average estimate of 13.4 billion yuan from 16 analysts polled by Thomson Reuters.

For the full year, net profit rose to 67.21 billion yuan, from 66.53 billion yuan a year earlier.

BoCom’s non-performing loan ratio was 1.52 percent by end-December, versus 1.53 percent at end-September. ($1 = 6.8850 Chinese yuan renminbi) (Reporting by Engen Tham in Shanghai and Shu Zhang in Beijing; Editing by Himani Sarkar)

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