21 January 2019

China banks post 1.38 trn yuan net profit in 2013, paper says

Chinese banks recorded a combined net profit of 1.38 trillion yuan (US$228.03 billion) in 2013, up 11.29 percent from 1.24 trillion in 2012, Economic Information Daily reported Tuesday, citing Shang Fulin {尚福林}, chairman of the China Banking Regulatory Commission. The banking sector had a combined loan portfolio of 8.9 trillion yuan last year. Loans to small businesses and agriculture-related firms grew faster than overall credit, Shang was quoted as saying. Non-performing loan provisions came in at 275 percent. The bad loan ratio rose slightly to 1.05 percent at the end of 2013, the report said.

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