Date
19 October 2017

Bank profits squeezed by bad loans, online finance, paper says

China’s banks are seeing their net profits squeezed by rising bad loans and internet finance, Shanghai Securities News reported Tuesday. Earnings by listed banks likely grew 11 percent on average last year compared with 17.36 percent in 2012, the report said, citing Huatai Securities Co. Ltd. (601688.CN) and Shenyin and Wanguo Securities Co. Ltd. Their non-performing loan ratio might have risen 0.02 percentage point to 0.89 percent in 2013, with the outstanding balance of such loans up 18.8 percent, Shenyin Wanguo Securities was quoted as saying.

– Contact HKEJ at [email protected]

TL/MY/RA

 

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