SHANGHAI/HONG KONG: Agricultural Bank of China Ltd (AgBank),the country's third-largest lender by market value, reported a 6 percent rise in third-quarter net profit, slightly below analysts' estimates.
The last of China's five biggest listed banks to report quarterly earnings, AgBank followed the others in showing a rise in its non-performing loan ratio as the country's economic slowdown hurts borrowers.
Net profit rose 6 percent to 48.4 billion yuan ($7.92 billion) in the quarter, according to the bank's unaudited financial statements filed on Thursday.
That was slightly below the average forecast of 50.4 billion yuan in a Reuters poll of analysts.
AgBank's non-performing loan ratio increased to 1.29 percent at the end of September compared with 1.24 percent at end-June.
China's bad loan levels were at 1.08 percent at the end of June, according to official data, the highest ratio since 2011.
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