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Wan LixinOpinion deputy editor of Shanghai Daily
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Bank assets grow, profits slide in H1
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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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