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August 12, 2020

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Bank assets grow, profits slide in H1

CHINESE banks posted steady assets growth and falling prof­its in the first half, according to data from the top industry regulator.

Local and foreign currency assets of banking financial institutions were 309.4 tril­lion yuan (US$44.4 trillion) by the end of the second quarter, a year-on-year increase of 9.7 percent, the China Banking and Insurance Regulatory Commis­sion said.

Around 40 percent of that was contributed by large state-owned lenders while joint-stock commercial banks saw their as­sets grow by nearly 18 percent.

In the first half, banks real­ized a cumulative net profit of 1.0 trillion yuan, down 9.4 per­cent from a year ago.

By the end of June, the bal­ance of non-performing loans of commercial banks was 2.74 trillion yuan, up 124.3 billion yuan from the end of the previ­ous quarter and their NPL ratio stood at 1.94 percent, up 0.03 percentage points on quarter.


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