5 State-Owned Banks Profits up 29% in 1st Three Quarters
The owned commercial banks, namely with the Industrial and Commercial Bank of China, the Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications published third-quarter data, showing that the five banks saw net profit of 421.2 billion Yuan in the first three quarters, up to 29 percent over last year.
With according for the latest statistic from end of September, the total domestic assets of China’s banking institutions reached 90.6 billion Yuan and increase of 20.4 percent. While end of September, non-performing loans and the non-performing loan ratio of the Industrial and Commercial Bank of China, the Agricultural Bank of China, Bank of China and China Construction Bank continued to decline.
China Construction Bank and Bank of Communications were 221.6 billion Yuan, 174 billion Yuan, 140.8 billion Yuan, 182 billion Yuan and 61.5 billion Yuan, but in fact an increase of 24.4 percent, 36.1 percent, 21.8 percent, 17.1 percent and 30.4 percent, respectively. The end of the third quarter, Bank of Communications dropped about 0.14 percentage points, the non-performing loans totaled 26.6 billion Yuan, 1.6 billion Yuan more than the beginning of the year, and the risk of loans is on the rise. Unfortunately, this report had good effect from banks profit.
