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Postal Savings Bank 3Q Net Rises 13.5%

   By P.R. Venkat 
 

Postal Savings Bank of China Co.'s net profit in the third quarter rose 13.5%, supported by higher net interest and noninterest incomes.

The lender's net profit during the July-September quarter was 19.19 billion yuan ($2.86 billion), PSBC said late Thursday.

Operating income during the period was up 1.7% at CNY70.04 billion.

Net interest income during the period came in at CNY63.45 billion compared with CNY60.10 billion the same period a year ago.

Income from fees and commission also rose to CNY9.47 billion, up 21% on year.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

(END) Dow Jones Newswires

October 29, 2020 19:11 ET (23:11 GMT)

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