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Financials

China Construction Bank Q4 profit rises 2.1%, beats estimates

BEIJING/SHANGHAI, March 29 (Reuters) - China Construction Bank Corp (CCB) posted on Sunday a 2.1% rise in fourth-quarter net profit.

China’s second-biggest lender by assets after Industrial and Commercial Bank of China Ltd (ICBC) saw profits rise to 41.39 billion yuan ($5.83 billion) in the October to December period, according to a Reuters calculation based on the company’s annual figures.

That compares with 40.55 billion yuan a year earlier, and beat a 39.6 billion yuan average of analysts’ estimates compiled by Refinitiv SmartEstimate.

SmartEstimates give more weight to recent estimates by analysts who are more consistently accurate. ($1 = 7.0942 Chinese yuan renminbi) (Reporting by Cheng Leng, Zhang Yan and Engen Tham; Editing by Himani Sarkar and Muralikumar Anantharaman)

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