Chinese bank profits expected to have surged in first half as economic rebound eased the burden of bad loan provisions | South China Morning Post

Chinese banks' profits are expected to have grown by an average of 23 per cent in the second quarter from a year ago, as sustained economic growth eased the burden of bad loans that had been weighing on their earnings. The three months to June 30 may prove to be the fastest-growing quarter of this year, said analysts, thanks mainly to a rebound from a pandemic-ravaged second quarter of 2020 which saw the largest profit pullback since the global financial crisis. Improving demand for loans would also help lift growth, they said. Leading state-owned commercial banks including Bank of China,…