China’s state-owned banks face thinner margins amid Beijing’s call to support economy

Quick Summary:

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

The Beijing-headquartered bank saw its NIM narrow to 1.44 per cent from 1.67 per cent a year ago, while its NPL ratio also declined to 1.24 per cent from 1.28 per cent.

China Construction Bank is the country’s second-largest lender.“We expect Chinese banks’ NIM in 2024 to be from 20 to 25 basis points lower than in 2023, but the degree of NIM drop in the second half of the year will be much more moderate, as NIM is already at a low level,” S&P’s Li said.

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Article Details

Author / Journalist: Yuke Xie

Category: Business

Markets: Hong KongChina

Topics: Yuan Bank Last Ratio Cent Year Profit Loan China According Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-01 @ 13:00:09 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 1016 words

Reading Time: 6 minutes read

Sentences: 28 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22315813

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