Ma­jor banks re­port bad-loan in­creases

China Daily (Canada) - - NEWSCAPSULE -

First-quar­ter re­sults show that ma­jor Chi­nese banks have ex­pe­ri­enced sig­nif­i­cant in­creases in non­per­form­ing loans.

China Con­struc­tion Bank Corp, Bank of China Ltd, Agri­cul­tural Bank of China Ltd and China Min­sheng Bank­ing Corp Ltd, the na­tion’s first pri­vately owned lender, all re­ported the NPL in­creases.

China’s re­cent eco­nomic down­turn and slower credit ex­pan­sion is driv­ing up the bad loans, said Ni Jun, an an­a­lyst at Shang­hai- based Green­woods As­set Man­age­ment Ltd.

GDP grew 7.4 per­cent in the first quar­ter, com­pared with 7.7 per­cent in the first and fi­nal quar­ters of 2013. (Photo 4)

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.