Some Chinese banks raise mortgage rates as profits shrink, reports say

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BEIJING : Chinese banks in several cities have taken the unusual step of raising mortgage rates, Chinese media reported, underscoring concerns over their shrinking profit margins amid a faltering economic recovery.

Moody's Ratings said in a research note this week that NIMs will remain under pressure over the next 12-18 months.

FILE PHOTO: A view of the financial district of Pudong is reflected on a bus passing by, in Shanghai, China September 27, 2024.

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Category: EconomyBusiness

Markets: SingaporeChina

Topics: Chinese September 2024 Cities Margins Mortgage Reported Rates Banks Media Lending

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 16:50:38 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 330 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 24547276

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