China’s Bank of Communications (3328.HKG, 601328.SHA), the nation’s fifth-largest lender by market value, reported a 13% net increase of second-quarter profit thanks to a surge in fee income, Bloomberg reported. The bank’s earnings beat analysts’ expectations. Net income climbed to RMB17.1 billion (US$2.8 billion) from RMB15.2 billion (US$2.5 billion) a year earlier, based on figures the bank announced Wednesday. BoCom’s net income exceeded the RMB16.6 billion median estimate of 10 analysts surveyed by Bloomberg News. BoCom’s fee income from services such as selling wealth management products, credit cards and insurance jumped 30% to RMB7 billion.
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