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Bank of China beats estimates with Q1 profits

Bank of China, the country's fourth-largest lender by market value, said on Thursday that first-quarter net profit beat estimates, increasing 13.9 percent as net interest margins widened and capital adequacy rose. Net profit rose to 45.4 billion yuan ($7.28 billion) in the first quarter, up from 39.8 billion yuan in the same 2013 period, according to the bank's unaudited financial statement. Total capital adequacy rose sharply to 12.95 percent, compared with 12.46 percent by the end of December last year.

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