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China's largest banks are experiencing the fastest growth in net profits
09/4/2018 12:00 am [rtl]BEIJING - Five major banks in China registered the fastest growth in net profit and the slowest rate of bad loans in 2017. China's largest bank, China's Bank of Industry and Commerce, posted a 3 percent growth in net profit for 2017, Chinese Construction Bank of China and Bank of Communications growth of more than 4 percent. In 2016, these five banks experienced growth below 2 percent or negative growth. Zeng Gang of the China Academy of Social Sciences attributed the growth to improved asset quality and increased interest rate margins. Many companies are able to repay their loans as supply-side reform helped boost their financial performance and ease pressure on banks, Zeng said. The ratio of non-performing loans to the five banks fell last year, the first time in six years. The Banking Regulatory Commission decided last month to reduce the coverage of the required provisions. But four of the five banks raised their coverage ratio as assets improved. China's foreign exchange reserves rose 8.34 billion US dollars in March to 3.1428 trillion US dollars, the People's Bank of China said on Sunday. Broad market expectations have indicated that China's foreign exchange reserves will record 3.146 trillion dollars. The increase comes in March after a slight decline in February 2018. China's foreign exchange reserves rose for 12 consecutive months between February 2017 and 2018. According to the People's Bank of China, China's gold reserves remained unchanged In March at 59.24 million ounces, with a higher value of $ 78.42 billion, up from $ 78.06 billion in February.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=155319[/rtl] |
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