Money

Bank of China Q3 profit up 29%

(Agenices)
Updated: 2010-10-27 17:38

Bank of China Ltd, China's fourth-largest bank by assets, said its net profit profit rose 29 percent to 27.22 billion yuan ($4.1 billion) for the July-September quarter, Reuters reported on Wednesday.

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The results beat the average forecast of 23.86 billion yuan from five analysts surveyed by Reuters.

China's "Big Four" state lenders -- Bank of China, Industrial and Commercial Bank of China Ltd, China Construction Bank and Agricultural Bank of China, are expected to report a 23 percent rise in combined third-quarter profit, according to analyst forecasts.