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China Construction Bank FY'17 net profit rises 4.7% YOY

China Construction Bank Corp. reported a 4.7% year-over-year rise in net profit for 2017, as growth in net interest income offset a fall in fee income and an increase in impairment losses.

China's second-largest bank by market capitalization said net profit attributable to equity shareholders for the year ended Dec. 31, 2017, rose to 242.26 billion yuan from 231.46 billion yuan in the year-ago period. EPS increased to 96 fen from 92 fen.

The S&P Capital IQ consensus GAAP and normalized EPS estimates for the bank's Hong Kong- and Shanghai-listed shares were each 96 fen.

The bank said net interest income for the period increased 8.3% to 452.46 billion yuan from 417.80 billion yuan.

As of March 26, US$1 was equivalent to 6.27 Chinese yuan.

More details to follow.