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szdaily -> Business_Markets
Banks post higher 1st-half profits
    2017-August-16  08:53    Shenzhen Daily

DOMESTIC commercial banks reported higher first-half profits than a year earlier, and the overall level of nonperforming loans (NPLs) in June did not increase from March, the country’s banking regulator said.

Total profits for commercial lenders reached 970.3 billion yuan (US$145.5 billion) for the six months of the year, up 7.92 percent from the first half of 2016, according to data issued by the China Banking Regulatory Commission (CBRC) Monday.

While profits increased, profitability, measured by return on assets and return on equity, slightly decreased from a year earlier, the CBRC said.

The NPL ratio for commercial lenders was at 1.74 percent at end-June, unchanged from the end of the first quarter, according to the regulator.

Commercial bank NPLs totaled 1.64 trillion yuan, up from 1.58 trillion yuan at end-March.

According to the CBRC, the percentage of “special mention loans” — ones where borrowers are experiencing difficulties — eased slightly to 3.64 percent by end-June from 3.77 percent at end-March.

China’s banking regulator has pressed commercial lenders this year to clean up their operations and reduce risk, as a surge in total lending causes the country to pay increasing attention to the health of its financial system.

The People’s Bank of China, in its second-quarter monetary policy report published Friday, said the central bank will continue to improve its quarterly macro-prudential assessment (MPA) of the operations of financial institutions.

At the National Financial Work Conference, a government gathering held last month, President Xi Jinping said that financial security is a vital part of national security. (SD-Agencies)

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