China's big banks set for hard slog as margins fall
They also face increased sour debt, even as rate cuts eat into interest income
Thu, Sep 01, 2016 - 5:50 AM
ICBC, China's biggest bank by assets, on Tuesday reported near flat half-year profits, and has written off 44.8 billion yuan of bad debt in the first half.
FOUR of China's so-called "Big Five" state-owned banks have warned that profits will continue to be pressured in the second half of the year, as slowing growth in the world's second- biggest economy hits borrowers and saps lenders' margins.