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China AgBank's Q4 profit rises 61%, beats estimates

BEIJING/SHANGHAI, March 30 (Reuters) - Agricultural Bank of China Ltd (AgBank), the country’s third-largest lender by assets, reported on Tuesday a 61% rise in its net profit for the fourth quarter, beating estimates.

AgBank’s net profit for October-December rose to 50.6 billion yuan ($7.70 billion) from 31.4 billion yuan a year ago, the bank said in a filing.

Full year profits increased 1.8% to 215.9 billion yuan, above a Refinitiv estimate of 197.9 billion yuan from 21 analysts.

$1 = 6.5673 Chinese yuan renminbi Reporting by Zhang Yan, Cheng Leng in Beijing and Engen Tham in Shanghai, editing by Louise Heavens

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