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China's Bank of Communications posts 2.3% rise in quarterly profit

BEIJING/SHANGHAI, April 29 (Reuters) - China’s Bank of Communications Co Ltd (BoCom) reported a 2.3% rise in first-quarter net profit, helped by an economic recovery from the coronavirus pandemic.

Net profit for China’s sixth-largest commercial bank by assets came in at 21.9 billion yuan ($3.4 billion) for the quarter ended March 31, up from 21.5 billion yuan in the same period of 2020, according to its statement to the Hong Kong stock exchange on Thursday.

$1 = 6.4674 Chinese yuan renminbi Reporting by Cheng Leng, Zhang Yan and Engen Tham; Editing by Muralikumar Anantharaman and Edmund Blair

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