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ICBC records rise in profits, overdue loans
Friday, August 31, 2012 16:01
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As with most financial and economic information regarding China, the true details are hidden below the surface. This is particularly the case with the Chinese banking system. Latest figures for the Industrial & Commercial Bank of China Ltd show a modest net profit rise for the first half of the year, up 13% from a year ago. At the same time though, the ratio of its overdue loans have increased by 7% since the end of last year, highlighting the rising credit risk facing China's major banks. With banks competing for higher deposit ratios, a series of wealth management products with high annual yields were introduced over a year ago. However those products consisted of package loans that are now in many cases “under-performing”. Bloomberg report today that overdue loans across China's five biggest banks have risen for the 6th quarter. For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ on.fb.me
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2012-08-31 15:57:40
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