SINGAPORE/HONG KONG, March 28(Reuters) - Industrial and Commercial Bank of China Ltd (ICBC) , the country’s biggest commercial bank, said on Thursday its fourth-quarter net profit stayed flat from a year ago amid a slowing economy.
State-controlled ICBC, one of the world’s biggest banks by market capitalisation and assets, posted a net profit of 58.05 billion yuan ($8.63 billion) for the three months ended December, versus 58.1 billion yuan a year ago.
Analysts were expecting a net profit of 58.17 billion yuan, according to Refinitiv SmartEstimate.
SmartEstimate gives more weight to recent estimates by analysts who are more consistently accurate. ($1 = 6.7268 Chinese yuan) (Reporting By Shu Zhang in Singapore and Kane Wu in Hong Kong; Editing by Muralikumar Anantharaman and Himani Sarkar)