Agribank Jumps as Third-Quarter Profit Beats Estimate on Margin
This article is for subscribers only.
Agricultural Bank of China Ltd., the nation’s third-largest lender by assets, jumped by the most in six weeks in Hong Kong trading after posting third-quarter profit growth that exceeded analysts’ estimates.
Agricultural Bank rose 3.1 percent to HK$3.34 at 3:54 p.m. in Hong Kong, cutting its loss for the year to 0.3 percent after saying on Oct. 26 that profit climbed 16 percent to 39.6 billion yuan ($6.3 billion). That beat the 37.8 billion-yuan average estimate in a Bloomberg survey. China Construction Bank Corp. gained 0.9 percent after the second-largest lender posted profit of 51.9 billion yuan, in line with estimates.