China's two largest state-controlled banks warned bad loans could rise and ...
BEIJING/HONG KONG - China’s two largest state-controlled banks warned bad loans could rise and interest margins would shrink, as they posted their weakest quarterly profit growth in more than two years.
And China Construction Bank Corp, the country’s second-largest lender, posted on Wednesday a 1 percent drop in net profit, its first quarterly decline since the October-December 2015 quarter. “Do not think we are doing so well with 1.46 percent NPL ratio. It is very fragile. Once the environment changes, it can increase.”
ICBC set aside more than 160 billion yuan in provisions last year and lifted its provisions to 176 percent of its non-performing loans at end-December from 154 percent a year earlier, President Gu Shu said on Thursday.
“We are facing challenges in maintaining NIM this year. It will not be as comfortable as last year,” said ICBC’s Gu, who said the bank would work hard to avoid passing on higher borrowing costs to its clients.
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