China's AgBank posts 4.52 percent rise in first-quarter profit

Agricultrual Bank of China (1288) reported on Wednesday a 4.52 percent rise in first-quarter net profit.

Net profit reached 75.185 billion yuan in the first quarter this year, up from 71.931 billion yuan a year earlier.

The profit is above three analysts' average estimate of 74.401 billion yuan, according to data compiled by Reuters.

Net interest margin - a gauge of profitability - was 1.26 percent at the end of March, compared to 1.28 percent at the end of December.

The bank's non-performing loan ratio was 1.25 percent at end-March compared with 1.27 percent three months earlier.

Reuters

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