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Top related persons:
Florence Lo - 1 Nicholas Zhu - 1 Zhu - 1 Ziyi Tang - 1 Ryan Woo - 1 Wang Jing - 1 Davide Barbuscia - 1 Anne Marie Roantree - 1
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Search resuls for: "Nicholas Zhu"


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☆ China ramps up economic support as Country Garden vote looms
  + stars: | 2023-09-01 | by ( Ziyi Tang Clare Jim Xie Yu | Ziyi Tang | Clare Jim | ) www.reuters.com   time to read: +5 min
Coins and banknotes of China's yuan are seen in this illustration picture taken February 24, 2022. Country Garden, China's largest private developer by sales, did not immediately respond to Reuters request for comment. Lower deposit rates will partially offset various pressures on banks' narrowing net interest margins - a key gauge of profitability, said Nicholas Zhu, a banking analyst at Moody's. "The impact of the deposit rate cut is material, given that close to three-quarters of Chinese banks' liabilities are deposits," Zhu said. China's mortgage loans totalled 38.6 trillion yuan ($5.29 trillion) at the end of June, representing 17% of banks' total loan books.
Persons: Florence Lo, Nicholas Zhu, Zhu, Ziyi Tang, Ryan Woo, Wang Jing, Davide Barbuscia, Anne Marie Roantree Organizations: REUTERS, HK, Industrial, Commercial Bank of China, China Construction Bank Corp, Agricultural Bank of China, Reuters, Industrial Bank Co Ltd, China Bohai Bank Co Ltd, Thomson Locations: BEIJING, Beijing, China, Washington, Guangzhou, Shenzhen, New York, Lincoln
☆ Smaller Chinese banks cut deposit rates on squeezed margins
  + stars: | 2023-04-11 | by ( ) www.reuters.com   time to read: +3 min
BEIJING, April 11 (Reuters) - Several small and mid-sized banks in China have lowered their deposit interest rates, a move that could help ease costs as loan growth faces more pressure amid rising economic risks. "But the costs of liabilities of banks remain relatively rigid, and net interest margins continue to shrink, which added to their operating pressures," he said. Nicholas Zhu, a banking analyst at Moody's, said smaller banks' pricing changes usually follow larger banks' initiatives with a time lag. In September, China's largest banks lowered deposit rates in their first broad-based move since 2015 to ease margin pressure. Lower deposit rates could also help ease banks' margin pressures at a time when investors have raised their hopes for a cut in lending rates to prop up the economy.
☆ We hold a negative view on China's banking sector, says Moody's
  + stars: | 2023-03-31 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe hold a negative view on China's banking sector, says Moody'sNicholas Zhu of Moody's Investors Service cites "concerns about asset quality" as one factor.
☆ Moody's retains 'negative' outlook on China's banks amid challenges of emerging from Covid-zero
  + stars: | 2023-03-15 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +1 min
BEIJING — Ratings agency Moody's said Wednesday it maintained a "negative" outlook on China's banking sector as a result of a drawn out recovery after Beijing's Covid controls ended. While Beijing ended its stringent Covid controls in early December, the economic rebound so far has remained muted. "Our outlook on the banking sector remains negative," said Vice President Nicholas Zhu and Associate Managing Director Chen Huang, the authors of the report. Moody's had changed its outlook on China's banks to "negative" from "stable" in November due to "deteriorating operating environment, asset quality and profitability." The ratings agency affirmed its negative outlook earlier this month.
☆ Analysis: China's mortgage rate cuts spur prepayment rush, threaten bank earnings
  + stars: | 2023-02-19 | by ( Ziyi Tang Liangping Gao Ryan Woo | Ziyi Tang | Liangping Gao | ) www.reuters.com   time to read: +5 min
Analysts estimate that nearly $700 billion of mortgages – close to one-eighth China's outstanding total – have been prepaid since early last year, when banks started to lower borrowing rates. This threatens banks' profits on mortgages, which accounted for about 30% of outstanding loans at China's five biggest banks as of last June, according to their latest financial reports. The current disinterest in new home purchases contrasts sharply with the overheated property market of prior years, when authorities kept mortgage rates high to cool speculation. Towards the middle of last year, however, regulators began lowering benchmark mortgage rates to prop up property demand, after a liquidity crisis among developers sent home prices and sales into a downward spiral. "I decided to do so because I'm burdened with a mortgage rate that's too high," Wang said.
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