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Top related persons:
Florence - 1 headwinds - 1 Gary Ng - 1 NIM - 1 Christopher Beddor - 1 there's - 1 Beddor - 1 Ziyi Tang - 1
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Bank of Communications - 1 Fair for Trade - 1 Services - 1 REUTERS - 1 China Construction Bank - 1 Corporate - 1 Investment Banking - 1 Industrial - 1

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☆ Pressure to revive economy muddies earnings outlook for China's top banks
  + stars: | 2023-08-22 | by ( Ziyi Tang Ryan Woo | Ziyi Tang | Ryan Woo | ) www.reuters.com   time to read: +4 min
China cut its one-year benchmark lending rate on Monday, which is set to further weigh on banks' NIM. Chinese commercial banks' NIM shrank sharply to 1.74% last quarter from 1.91% at the end of 2022, official data showed. Shares of China's biggest five banks have been sliding since early May amid concerns over the weakening economy. Debt-laden municipalities represent a major risk to China's economy and financial stability, after years of over-investment in infrastructure and plummeting returns from land sales. Still, there's really no getting around the fact that banks will need to sacrifice profitability to support the economy this year," Beddor added.
Persons: Florence, headwinds, Gary Ng, NIM, Christopher Beddor, there's, Beddor, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Himani Organizations: Bank of Communications, Fair for Trade, Services, REUTERS, China Construction Bank, Corporate, Investment Banking, Industrial, Commercial Bank of China, Bank of Communications Co, Agricultural Bank of China, JPMorgan, Thomson Locations: Beijing, China, BEIJING
☆ China's top banks post shrinking margins in Q1
  + stars: | 2023-04-28 | by ( Ziyi Tang Engen Tham | Ziyi Tang | Engen Tham | ) www.reuters.com   time to read: +3 min
[1/3] People walk past a branch of Industrial and Commercial Bank of China (ICBC) in Beijing, China April 1, 2019. REUTERS/Florence LoSummarySummary Companies Top five lenders post shrinking net marginsNon-performing loans hold steady at all fiveQ1 net profit growth mostly flatSHANGHAI/BEIJING, April 28 (Reuters) - Five of China's largest lenders posted shrinking margins in the first quarter on Friday, as loan re-pricing bites. Following suit were Agricultural Bank of China Ltd (AgBank) (601288.SS), Bank of China (BoC) (601988.SS), China's Bank of Communications Co Ltd (BoCom) (601328.SS), and China Construction Bank Corp (CCB)(601939.SS), all posting dips in their NIM. All lenders posted flat to around 5% net profit growth with BoCom logging the highest first-quarter net profit at over 5%. AgBank came in second with 1.75% as the others posted flat net profit growth over the same period.
☆ China's Big Five banks post healthy results, warn of shaky recovery
  + stars: | 2023-03-30 | by ( Ziyi Tang Selena Li Engen Tham | Ziyi Tang | Selena Li | ) www.reuters.com   time to read: +3 min
REUTERS/Florence Lo/File PhotoSummarySummary Companies Five big lenders post over 3.5% annual net profit growthNet interest margin shrank at all fiveNPL ratios steady or down for all fiveBEIJING, March 30 (Reuters) - China's Big Five lenders posted above 3.5% annual net profit growth this week, but warned that the foundations of the country's recovery were "not yet solid". China's Bank of Communications Co Ltd (BoCom) (601328.SS), and Bank of China (BoC) (601988.SS) both posted just over 5% annual net profit growth on Thursday. Even higher figures came from the Agricultural Bank of China Ltd (601288.SS) (AgBank) on Thursday and China Construction Bank Corp on Wednesday, which both posted over 7% annual net profit growth. Industrial and Commercial Bank of China (ICBC) (601398.SS), , the world's largest listed lender by assets, came in at 3.5% annual net profit growth. NPLsWhile all five lenders posted steady or falling non-performing loan ratios, they also logged shrinking net interest margins (NIM), a key gauge of bank profitability.
☆ Chinese lender BoCom agrees $14 bln credit line with developer Vanke
  + stars: | 2022-11-23 | by ( ) www.reuters.com   time to read: +2 min
BEIJING, Nov 23 (Reuters) - China's Bank of Communications Co Ltd (BoCom) (601328.SS) said on Wednesday it would provide a 100 billion yuan ($13.98 billion) credit line to developer Vanke in the latest sign of support for the embattled property sector. The property sector makes up about a quarter of the economy. Under the agreement, BoCom will likely offer Vanke (000002.SZ) property development loans, mortgage loans and loans for merger and acquisition deals, according to a statement released by the lender. The agreement is part of the bank's efforts to implement 16 measures outlined by Chinese regulators to support the property sector, it said in the statement. China's property sector, once a pillar of growth, has slowed sharply this year due to government efforts to restrict excessive borrowing by developers.
☆ Three of China's largest lenders report over 6% rise in third quarter profit
  + stars: | 2022-10-28 | by ( ) www.reuters.com   time to read: +1 min
[1/2] People stand at a booth of Industrial and Commercial Bank of China (ICBC) during the 2022 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Tingshu WangBEIJING, Oct 28 (Reuters) - Three of China's largest lenders posted third quarter profit rises of over 6% as non-performing loan ratios shrunk. Industrial and Commercial Bank of China Ltd (ICBC) (601398.SS), the world's largest commercial lender by assets, said net profit rose 6.8% year-on-year in the third quarter in a Friday filing. All three lenders posted slight falls in non-performing loan ratios in the third quarter. Both ICBC and AgBank posted NPL ratios of 1.4% for the end of September compared to 1.41% at the end of the quarter before.
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