Chinese Commercial Banks to See Profit Expansion

(MENAFN) In a new report, the Bank of China Research Institute said Chinese commercial banks are expected to see their profits rise by about 3% in the first and last six months of the year.

The report also added that clear signs of development were made in the profitability of the Chinese banking sector and that the quality of assets was stable in the first six months of the year.

According to earlier data from the China Banking and Insurance Regulatory Commission, the net income of Chinese commercial banks in the first six months increased 2.4% year-on-year to 614.3 billion yuan (about 95 , 07 billion dollars).

In addition, the research institute predicted that the Chinese banking sector will show a better income expansion trend and strong risk-balancing capacity during the July-September period.

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