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China's AgBank Q3 net profit up 4.9 pct, bad debts ease
October 30, 2017 / 9:49 AM / 2 months ago

China's AgBank Q3 net profit up 4.9 pct, bad debts ease

SHANGHAI, Oct 30 (Reuters) - Agricultural Bank of China Ltd (AgBank), the country’s third-biggest lender by assets, reported on Monday a 4.9 percent rise in third-quarter net profit as soured debt fell.

AgBank’s net profit for the July-September period was 51.4 billion yuan ($7.74 billion), against 49.02 billion yuan in the year-ago period.

That compared with the 4.4 percent average rise in third quarter net profit estimated by four analysts surveyed by Reuters.

AgBank said its non-performing loan ratio fell slightly to 1.97 percent at the end of September from 2.19 percent at end-June. ($1 = 6.6426 Chinese yuan) (Reporting by Shu Zhang, Matthew Miller and Engen Tham; Editing by Jacqueline Wong)

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