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China's top lenders see growth in Q3 net, tapering of bad loans

Non-performing loan ratios fell slightly at CCB, ICBC, BoCom and AgBank

Reuters  |  Beijing 

Four of China's 'Big Five' state-owned banks reported higher quarterly profits and slower growth in bad loans, helped by a resilient economy and checks on the shadow banking sector. The improved results from top lenders in the world's second-largest economy come after successive interest rate cuts dented their interest margins - a key gauge of profitability - while loan defaults rose sharply among struggling borrowers. The improvement has been aided by a cocktail of policy measures, such as debt-for-equity swaps for struggling state borrowers. Industrial and ...

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First Published: Mon, October 30 2017. 21:24 IST