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May 14, 2018

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Banks’ profits gain faster

CHINA’S commercial banks saw faster growth in profits for the first quarter of the year, with a stable bad loan ratio, data showed.

The banks made combined net profits of 522.2 billion yuan (US$82.2 billion) in the first three months, up 5.86 percent year on year, data from the China Banking and Insurance Regulatory Commission showed.

The growth was 1.25 percentage points faster than the same period last year.

By the end of March, the non-performing loan ratio of commercial banks stood at 1.75 percent, almost flat from the end of 2017.

Outstanding bad loans from commercial banks totaled 1.77 trillion yuan by the end of first quarter, up 68.5 billion yuan from the end of 2017.

The CBIRC recently rolled out a set of measures to rein in risk in the banking sector.

In a rule released earlier this month, the CBIRC limited commercial bank’s risk exposure.


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