12 December 2018

Banks post 14.5% net profit growth for 2013, paper says

China’s commercial banks posted a combined net profit of 1.42 trillion yuan (US$232.8 billion) in 2013, up 14.5 percent from the previous year, the National Business Daily reported Friday, citing data released by the China Banking Regulatory Commission. Net profit for the fourth quarter fell 72.1 billion yuan from the three months to September, the second straight quarter of decline. Analysts attributed the negative quarterly profit growth to decreased credit quota amid a tightened monetary policy. Banks’ non-performing loan ratio rose to 1 percent at the end of 2013 from 0.97 percent at the end of third quarter last year, the report said.

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