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China Said To Ease Demands On Banks To Deliver Lower Profits (BBG)

CHINA

BBG sources have noted that CBIRC is "easing requirements on banks to report lower profits, delivering a reprieve for the $45 trillion sector that has been under pressure to sacrifice earnings to support the economy. The China Banking and Insurance Regulatory Commission has given major lenders discretion to report earnings declines of about 10%, or less, below the more than 20% drop seen in the second quarter." This represents the relaxation of a directive issued back in June.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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