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China Banks' Non-performing Credit Card Loans Surge in H1: Daily

CHINA PRESS
MNI (Sydney)

Chinese banks saw their credit card issuance volumes and loan balances plunge in H1 while non-performing rates for credit card loans surged after the pandemic reduced spending, according to the Securities Daily citing semi-annual reports from banks released in the past week. The rate of bad credit card debt for privately owned banks was worse than SOE banks, with Shanghai Pudong Development Bank's NPL ratio rising 1.01 pp from end-2019 to 3.31% while that of Minsheng Bank was up 0.75 pp to 3.23%, the Daily said. The situation has improved from Q2 and the quality of credit card loans may be controllable in H2, according to the report.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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