Bank of Communications Third-Quarter Profit Rises 24% on Loans
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Bank of Communications Ltd., China’s fifth-largest bank, posted a 24 percent gain in third-quarter profit as an economic recovery boosted income from loans and lending margin.
Net income climbed to 9.18 billion yuan ($1.4 billion), or 0.17 yuan a share, from a restated 7.39 billion yuan, or 0.14 yuan, a year earlier, the Shanghai-based company, also known as BoCom, said in a statement today. That fell short of the 9.5 billion yuan median estimate of seven analysts surveyed by Bloomberg.