Arab Today, arab today china\s listed banks expect 30 net profit increase in q3
Last Updated : GMT 06:11:27
Arab Today, arab today
Arab Today, arab today

China\'s listed banks expect 30% net profit increase in Q3

Arab Today, arab today

Arab Today, arab today China\'s listed banks expect 30% net profit increase in Q3

Beijing - Xinhuanet

China\'s listed banks are expected to post a 30-percent year-on-year increase in net profits for the third quarter due to the increased spread of intermediary services, according to analysts. \"Large banks saw the interest margin reach its peak in the second quarter, while small- and medium-size banks expected widened spreads,\" said She Minhua, an analyst at Zhong De Securities. The net profits of listed banks will surge more than 31 percent to 696.7 billion yuan (109.2 billion U.S. dollars) in the first three quarters, according to a report by Sinolink Securities. The report said net interest earnings by listed banks will rise 26 percent year-on-year in the first three quarters, with interest-earning assets increasing 17 percent from the same period of last year. \"Banks\' assets quality remains generally stable,\" said Xu Wenbing, an analyst from the Bank of Communications, adding that small enterprises\' credit risks have not transferred to the nation\'s banking system. Previous media reports stated that small- and medium-sized enterprises are facing an unprecedented crisis this year as they struggle to survive a liquidity crunch amid the country\'s tightened macroeconomic control policies. However, a multi-department investigation has shown that the crisis has largely been kept under control. \"As shown in major banks\' interim reports, the size of loans on local government financing platforms was shrinking. The non-performing assets rate and the outstanding amount of non-performing loans were predicted to remain stable,\" said a report by Shenyin and Wanguo Securities. The report also said increasing sales of financing products have contributed to the expansion of intermediary services and increased the banks\' revenues. 

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