Chinese banks set to report first-half profit growth, as infrastructure lending cushions impact of Covid-19 lockdowns


Source: scmp.com scmp.com

Key Topics in this News Article:

News Snapshot:

Chinese banks are set to report about 5 per cent year-on-year profit growth for the first half of 2022, as sustained loan growth to support infrastructure and state companies is expected to offset weaker retail loan demand caused by Covid-19 lockdowns in the second quarter, analysts said. The six leading state-owned banks, including Bank of China , China Construction Bank , Industrial and Commercial Bank of China and Agricultural Bank of China , will begin releasing their first-half results over the next two weeks. Bank of Communications and Postal Savings Bank of China will be the first to report next...