CCB misses expectations on net profits in Q3

China Construction Bank (CCB; 601938.SHA, 0939.HKG) on Sunday reported net-profit growth in the third quarter but missed market expectations, The Wall Street Journal reported. China’s second-largest bank by assets announced that its net profit for the third quarter grew by 9.4% to US$9.34 billion (RMB56.8 billion) instead of an expected average net profit of US$9.48 billion (RMB57.69 billion). The third-quarter profit growth for CCB was the second-slowest pace of growth in more than four years after it marked a slowdown from its 13% growth in the first half of this year.