Bank of China (3988.HKG, 601988.SH) posted a higher-than-expected 17% growth in third-quarter profit as margins on its loans increased, Bloomberg reported. China’s fourth-largest lender by assets reported net income of US$5.6 billion, up from US$4.77 billion last year, in a statement released Thursday. The figure surpassed the median analyst estimate of US$5.24 billion compiled by Bloomberg. The bank’s net interest margin from January through September was 2.12%, an increase of 0.02% from the end of June. In other coverage of the bank, the lender rejected allegations of providing banking services to terrorists, The Wall Street Journal reported. A lawsuit filed by families of Israeli students killed in 2008 accuses the lender of making wire transfers for the Palestinian organization Hamas. “Bank of China has always compiled with United Nations’ regulations against … financing for terrorism,” the bank said in a statement Thursday.
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