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Domestic banks face rising credit risks, PwC says
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DOMESTIC banks face rising credit risks as the asset quality of large companies and industries will slide due to China’s economic slowdown and continued reforms, PricewaterhouseCoopers said in a report today.
The non-performing loan ratio for China’s 10 largest listed banks rose 0.07 percentage point to 1.07 percent in the first half and the overdue loan ratio increased 0.34 percentage point to 1.63 percent, according to the report.
A further rise in the overdue loan ratio is an alarming signal for future asset quality, the report said, adding joint-stock banks such as Shanghai Pudong Development Bank and Industrial Bank Corp had the fastest rise in bad loans.
Banks will be under asset quality pressure as more companies will be impacted by a controlled slowdown of the Chinese economy, a cooling real estate market, government efforts to eliminate excess capacity and the mounting debt of local governments.
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