AgBank beats forecast
Source: Agencies |
March 30, 2011, Wednesday
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Print Edition
Print Edition
THE Agricultural Bank of China, the country's No. 3 lender by assets, yesterday reported a forecast-beating 83 percent rise in quarterly profit, helped by a widening net interest margin as it doled out loans to its core rural clients.
AgBank posted a 24.72 billion yuan (US$3.77 billion) profit in the October-December quarter, up from 13.51 billion yuan a year ago and beating market hopes for 20.76 billion yuan, according to a poll of 24 analysts by Thomson Reuters.
The bank's full-year net profit was 94.87 billion yuan, versus 64.9 billion in 2009, it said.
AgBank posted a 24.72 billion yuan (US$3.77 billion) profit in the October-December quarter, up from 13.51 billion yuan a year ago and beating market hopes for 20.76 billion yuan, according to a poll of 24 analysts by Thomson Reuters.
The bank's full-year net profit was 94.87 billion yuan, versus 64.9 billion in 2009, it said.
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