China's Bank of Communications posts 3.1 percent profit rise in first quarter

Bank of Communications (3328) reported on Wednesday a 3.1 percent rise in first-quarter net profit to 26.126 billion yuan, helped by a repricing of deposits.

The result was broadly in line with four analysts' average estimate of 26.159 billion yuan, according to data compiled by Reuters.

Net interest margin - a gauge of profitability - was 1.23 percent at the end of March, compared to 1.2 percent at the end of December.

The bank's non-performing loan ratio was 1.3 percent at end-March compared with 1.28 percent three months earlier.

Reuters
 

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