China Construction Bank fourth-quarter profit jumps 58%, beats estimates

Sign of China Construction Bank is seen at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing
FILE PHOTO: A sign of China Construction Bank is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang

March 26, 2021

BEIJING/SHANGHAI (Reuters) – China Construction Bank Corp (CCB) logged a 57.6% jump in fourth-quarter net profit, its first climb in profit in three quarters.

China’s second-biggest lender by assets after saw profits rise to 65.2 billion yuan ($9.97 billion) in the October to December period, compared with 41.4 billion yuan a year earlier.

Profit for the full year increased 1.6% to 271.1 billion yuan, above a Refinitiv estimate of 249.7 billion yuan drawn from 23 analysts.

($1 = 6.5397 Chinese yuan renminbi)

(Reporting by Zhang Yan, Cheng Leng in Beijing and Engen Tham in Shanghai, editing by Louise Heavens)