China's Bank of Communications' first-half profit up 4.8%

SHANGHAI/BEIJING : China's Bank of Communications on Friday reported a 4.8 per cent rise in first-half net profit as the economy recovered from the COVID-19 pandemic.

Profit rose to 44.04 billion yuan ($6.42 billion) for the January to June period, up from 42.02 billion yuan a year earlier, the bank said in a statement to the Hong Kong stock exchange.

($1 = 6.8629 Chinese yuan renminbi)