October 25, 2019 / 11:28 AM / 19 days ago

China's AgBank beats estimates with 6.1% profit jump

BEIJING (Reuters) - Agricultural Bank of China (AgBank) (601288.SS) (1288.HK), the country’s third-biggest lender by assets, on Friday reported a 6.1% rise in third-quarter net profit, beating analyst estimates.

July-September profit was 59.23 billion yuan ($8.38 billion), up from 55.82 billion yuan a year earlier.

The result topped the 4.77% growth expected on average by three analysts polled by Reuters.

AgBank also said its non-performing loan ratio was 1.42% at Sept. 30, compared with 1.43% at the end of June.

The lender did not publish its net interest margin.

Other major Chinese banks, including Bank of China (601988.SS)(3988.HK) and China Construction Bank Corp (601939.SS)(0939.HK), report results next week.

Reporting by Cheng Leng in Beijing and Engen Tham in Shanghai; Editing by David Goodman

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