Solid earnings expected
By Hu Xiaocen |
March 14, 2013, Thursday
|
Print Edition
Print Edition
LISTED Chinese banks are set to report stronger earnings in 2012 and they managed to keep a low level of bad loans, the central bank said yesterday.
"The major business indicators point to a good performance for the lenders," Pan Gongsheng, vice governor of the People's Bank of China, said in Beijing. "I think they will report stronger performance in their 2012 financial results."
Pan attributed the banks' strong financial results to a stable macro-economic situation, surging credit, banking reforms and better management.
The banks kept their bad loan ratio and outstanding non-performing loans at a very low level, he said. Currently the outstanding bad loans stood below 500 billion yuan (US$80.4 billion), while the bad loan ratio is 0.95 percent.
"The major business indicators point to a good performance for the lenders," Pan Gongsheng, vice governor of the People's Bank of China, said in Beijing. "I think they will report stronger performance in their 2012 financial results."
Pan attributed the banks' strong financial results to a stable macro-economic situation, surging credit, banking reforms and better management.
The banks kept their bad loan ratio and outstanding non-performing loans at a very low level, he said. Currently the outstanding bad loans stood below 500 billion yuan (US$80.4 billion), while the bad loan ratio is 0.95 percent.
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