26Oct/110
China banks report rise in profits
Agricultural Bank of China says third-quarter profit rose 40 percent to just over 34-billion yuan from the same period last year. The earnings - which were in line with market estimates - were driven by a 53-percent surge in fee and commission income from credit cards and insurance business. At the same time, Bank of China posted slower-than-expected growth for the third quarter. Profits rose 9.4 percent.