Poor profit gains seen for top China banks
First-quarter NPLs at 4 of the Big 5 surge the most in at least 7 quarters
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Beijing CHINA'S big five banks are at risk of their weakest full-year profit growth since at least 2004 after first-quarter results showed bad loans rising in a struggling economy.
Industrial & Commercial Bank of China Ltd reported a 21 billion yuan (US$4.48 billion) jump in soured credit for the first quarter, the biggest increase since at least 2008, in a filing on Wednesday.
ICBC, China Construction Bank Corp, Agricultural Bank of China Ltd, Bank of China Ltd and Bank of Communications Co all this week reported profit growth of less than 2 per cent, down from an average of about 10 per cent for the same period in 2014.
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