March 27, 2019 / 2:09 PM / 3 months ago

China Construction Bank's Q4 profit dips 1 pct, missing estimates

SINGAPORE/HONG KONG, March 27 (Reuters) - China Construction Bank Corp (CCB) reported a 1 percent drop in fourth-quarter net profit on Wednesday, missing analysts’ estimates.

China’s second-biggest lender by assets after Industrial and Commercial Bank of China Ltd (ICBC) saw profits dip to 40.55 billion yuan ($6.03 billion) in the October to December period, according to Thomson Reuters calculations based on the company’s annual figures.

That compares to 41.02 billion yuan a year earlier, and a 43.34 billion yuan average of analysts’ estimates compiled by Refinitiv SmartEstimate, weighted in favour of the more accurate analysts. ($1 = 6.7249 Chinese yuan renminbi) (Reporting by Shu Zhang and Julie Zhu; Editing by Christopher Cushing and Jan Harvey)

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