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Bank of China Q4 profit jumps 70%, beats estimates

BEIJING/SHANGHAI, March 30 (Reuters) - Bank of China, the country’s fourth-largest bank by assets, reported a 69.5% rise in the net profit for the fourth quarter of 2020.

Net profit at BoC was 47.2 billion yuan ($7.19 billion) for the fourth-quarter ended December, versus 27.8 billion yuan a year ago, the lender said in a filing on Tuesday.

Profits for the full year increased 2.9% to 192.9 billion yuan, above a Refinitiv estimate of 172.9 billion yuan from 17 analysts. ($1 = 6.5627 Chinese yuan renminbi) (Reporting by Cheng Leng in Beijing, Zhang Yan and Engen Tham in Shanghai; editing by Louise Heavens)

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