This is how much the big banks in China have earned

31 August 20213 years ago babelfish

The top five banks in China reported a sharp rise in earnings in the first half of 2021 after last year's decline. All the numbers

China's top five banks reported sharply rising net earnings in January-June 2021 after last year, due to the coronavirus pandemic, they recorded their first half-yearly drops since the 2008 financial crisis. thanks to the recovery of the economy, which stimulated credit activity and reduced loan losses.

HOW IS THE BANK OF CHINA

In the first half of 2021, the Bank of China, the fourth largest credit institution in China by asset, reported earnings growth of 11.8 percent – the largest year-over-year increase since 2013. Profit was in fact, 112.8 billion yuan (17.4 billion dollars), compared to 100.9 billion yuan the year before.

The vice-president of the institute, Wang Wei, however, said he expected "some downward pressure" for net interest margins in the future.

Compared to the other four main Chinese banks, the Bank of China is the one with the greatest international projection: it predicts , in this sense, that the debt will grow more abroad than at home. New non-performing loans are mainly concentrated in sectors particularly affected by the coronavirus pandemic, such as real estate and aviation.

THE NUMBERS OF THE CHINA CONSTRUCTION BANK

First-half profits of China Construction Bank, China's second largest bank, grew 11.3 percent to 153.3 billion yuan ($ 23.6 billion) versus 137.6 billion. of yuan from the same period of the previous year.

The bank's chief financial officer, Zhang Yi, said net interest income will be lower in the second half of 2021 and stabilize at reasonable levels in 2022.

THE RESULT OF THE INDUSTRIAL AND COMMERCIAL BANK OF CHINA

The Industrial and Commercial Bank of China, the largest commercial bank in the world, said its net profit in the first half of 2021 grew 9.8 percent year-on-year to a total of 163.4 billion yuan. : less, however, than it had recorded in 2019, before the pandemic.

THE OTHER BANKS

The first half of 2021 was also positive for the other large Chinese banks such as the Bank of Communications and the China Construction Bank Corp: the first recorded a 15.1 percent growth in profits; the second by 11.3 per cent.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/cina-banche-profitti-primo-semestre-2021/ on Tue, 31 Aug 2021 13:23:41 +0000.