BoCom 2011 Net Profit Surges 30%

Bank of Communications Co BCMXY reported a 30% rise in its 2011 net profit. BoCom's net profit for the period climbed to CNY50.74 billion ($8.1 billion), versus CNY39.04 billion, in the year-ago period. However, analysts were expecting a net profit of CNY48.01 billion. BoCom's net interest income surged 21% to CNY102.6 billion.