March 28, 2019 / 9:00 AM / a year ago

China's top bank ICBC reports flat Q4 profit

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below