Bank of China recorded a net profit growth in first quarter to 27.8 percent, beating analysts' forecasts, thanks to improved profitability at the expense of monetary tightening in China. Fourth Bank of China by market value received in January-March net profit of 33.44 billion yuan ($ 5.1 billion) compared with 26.18 billion a year ago. Nine analysts polled by Reuters had forecast 32.5 billion yuan. Net interest margin - a key measure of profitability - rose to 2.11 percent in the first quarter from 2.04 percent in the first quarter of last year, the bank said in a statement posted on the Hong Kong Stock Exchange on Thursday. Share of Tier I capital decreased by 0.13 percentage points to 9.96 percent from fourth quarter 2010, according to the lender. Quotes Bank of China in Hong Kong fell to 0.7 percent on Thursday before publication of the report. On the Shanghai Stock Exchange Bank's shares rose 0.3 percent. Source: Bankir.Ru
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