March 27, 2018 / 1:06 PM / 4 months ago

China Construction Bank fourth-quarter profit rises 9 percent

SHANGHAI/BEIJING (Reuters) - China Construction Bank Corp (CCB), the country’s second-biggest lender by assets, on Tuesday reported a 9 percent rise in fourth-quarter profit, beating analyst estimates.

FILE PHOTO: The logo of China Construction Bank is seen at a branch office in Zurich, Switzerland September 28, 2016. REUTERS/Arnd Wiegmann/File Photo

Net profit for October-December rose to 41.02 billion yuan ($6.53 billion), versus 37.63 billion yuan a year earlier, according to Thomson Reuters calculations based on the company’s annual figures, and was above the 39.64 billion yuan average estimate from 19 analysts polled by Thomson Reuters.

Full-year net profit rose 4.7 percent to 242.264 billion yuan, versus 231.46 billion yuan in 2016.

CCB’s non-performing loan ratio eased to 1.49 percent at end-2017 from 1.5 percent at end-September

($1 = 6.2750 Chinese yuan renminbi)

Reporting by Engen Tham in Shanghai and Shu Zhang in Beijing; Editing by Himani Sarkar and Louise Heavens

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