Bank of China Q1 Net Profit Rises 8.2%

Bank of China

reported an 8.2% rise in its first-quarter net profit. The bank's quarterly net profit surged to 39.82 billion yuan (US$6.42 billion), from CNY36.80 billion, in the year-ago period. However, analysts were expecting a profit of CNY40.03 billion. Its net-interest income climbed 10.5% to CNY66.96 billion. Bank of China shares closed at $0.45 yesterday.