15 April 2021, Thursday, 09:18 126

China's banking sector likely to see profits grow by 5 pct in H1, - report

Редактор: Тимофій Борзенко

Citizens line up to buy commemorative coins at a bank in Huai'an, east China's Jiangsu Province. Photo by He Jinghua/Xinhua.

China's banking sector is likely to see its profits grow by 5 percent in the first half (H1) of 2021, predicted Bank of China Research Institute in a recent report, The Xinhua News Agency reports.

Chinese commercial banks registered net profit decline in 2020 compared with 2019 largely due to narrower interest margins and sizeable provisions, which will be eased in the first half of the year, according to the report.

The recovery and improvement of China's macro economy will bring growth potential to the banks' asset business development, according to the report.

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