March 29, 2018 / 8:49 AM / 22 days ago

China's BoCom Q4 profit up 8 pct, beats analysts' estimate

SHANGHAI, March 29 (Reuters) - Bank of Communications Co Ltd (BoCom), China’s fifth-largest listed bank by assets, reported an 8 percent rise in quarterly net profit.

BoCom on Thursday posted a net profit of 15.81 billion yuan ($2.51 billion) for the fourth quarter ended December 2017, versus 14.63 billion yuan a year ago, according to Reuters calculations based on the company’s full-year figures.

That was above an average estimate of 12.88 billion yuan from 17 analysts polled by Thomson Reuters.

For the full year, net profit rose to 70.22 billion yuan, from 67.21 billion yuan a year earlier.

BoCom’s non-performing loan ratio was 1.5 percent by end-December, versus 1.51 percent at end-September. ($1 = 6.2896 Chinese yuan) (Reporting by Engen Tham in Shanghai and Matthew Miller in Beijing; Editing by Himani Sarkar)

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