Agricultural Bank of China Posts 29% Surge In 2011 Net Profit

Agricultural Bank of China Ltd

reported a 29% rise in its net profit in 2011. The bank's net profit for the period climbed to CNY121.9 billion (US$19.32 billion), from CNY94.87 billion in 2010. However, analysts were expecting a net profit of CNY130.44 billion. Agricultural Bank of China's shares closed at $11.45 yesterday.