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China Postal Savings Leads Banks' Profit Growth in 2020: Newspaper

CHINA PRESS
MNI (Sydney)

Postal Savings Bank of China led the country's top six national banks with 5% growth in net profits last year, followed by Bank of China with 3% while the other four including ICBC registered around 1%, the 21st Century Business Herald reported citing the annual reports. Profits of the six majors totaled CNY1.34 trillion, it said. The China Construction Bank saw its NPL rise by 0.14 percentage point to 1.56%, and increased provisions dragged its profit growth to 1.6% from 5.3% in the previous year, the newspaper said.

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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