AgriBank Rises After Profit Beats Estimates on Loan Margin
This article is for subscribers only.
Agricultural Bank of China Ltd., the nation’s fourth-largest lender, rose the most in six weeks in Hong Kong trading after posting a bigger-than-estimated increase in fourth-quarter profit as loan margins widened.
The stock gained 2.7 percent to close at HK$4.24 as net income jumped 83 percent to 24.7 billion yuan ($3.8 billion) in the quarter from a year earlier. Profit beat the 21 billion yuan average estimate of 17 analysts surveyed by Bloomberg.