August 27, 2019 / 8:45 AM / 2 months ago

China's BoCom H1 net profit rises 4.85%, Q2 beats estimates

SHANGHAI/BEIJING, Aug 27 (Reuters) - Bank of Communications Co Ltd , China’s fifth-largest state-owned listed bank by assets, reported on Tuesday a 4.9% rise in first-half net profit.

Profit came in at 42.75 billion yuan ($6.03 billion) for January-June, compared to 40.77 billion yuan in the same period a year earlier, the bank said in a statement to the Hong Kong stock exchange.

That implied a second-quarter net profit of 21.68 billion yuan, 4.83% higher than the year-earlier period, Reuters calculations showed.

Two analysts contacted by Reuters had on average forecast a 4.75% rise in quarterly profit. ($1 = 7.0928 Chinese yuan renminbi) (Reporting by Engen Tham in Shanghai and Cheng Leng in Beijing; Editing by Christopher Cushing and Muralikumar Anantharaman)

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