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August 11, 2016

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Home » Business » Finance

Chinese banks’ H1 profits see slower increase

PROFIT growth for Chinese commercial banks slowed this year, the banking regulator said yesterday.

The net profits of commercial lenders reached 899.1 billion yuan (US$135.14 billion) during the first half of the year, up 3.17 percent annually, according to a statement on the website of the China Banking Regulatory Commission.

The assets of the banking sector jumped 15.7 percent from a year earlier to 218 trillion yuan at the end of June, while liabilities were 201.8 trillion yuan, up 15.2 percent year on year.

Banks continued to lend to agriculture, small and micro enterprises as well as affordable housing projects.

There were 27.3 trillion yuan in outstanding agriculture-related loans at the end of June, up 8.7 percent year on year. Outstanding loans to small and micro firms were 25 trillion yuan, up 13.2 percent.

Loans to pay off credit card debt surged 17.2 percent and loans to affordable housing projects jumped 62 percent during the first half of the year, outpacing average loan growth.

Commercial banks' non-performing loans increased by 45.2 billion yuan to 1.44 trillion yuan at the end of June. The NPL ratio was 1.75 percent, flat from the end of March.

The capital adequacy ratio of commercial lenders stood at 13.11 percent at the end of June, down 0.25 percentage point from the end of March, the statement said.


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