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China's Bank of Communications Q4 profit jumps 49%, beats estimates

BEIJING/SHANGHAI, March 26(Reuters) - China’s Bank of Communications Co Ltd (BoCom), booked a 49.2% jump in fourth-quarter net profit, its first profit gain in three quarters.

Net profit for China’s sixth-largest commercial bank by assets came in at 25.6 billion yuan for the quarter, up from 17.1 billion yuan in the last quarter of 2019, according to Reuters calculations.

Full-year profit climbed 1.3% to 78.3 billion yuan, above an average estimate of 70.2 billion yuan from 15 analysts polled by Refinitiv. (Reporting by Cheng Leng,Zhang Yan in Beijing and Engen Tham in Shanghai; Editing by Toby Chopra)

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