MNI BRIEF: Bank Of Italy Downgrades 2024 Inflation Forecast

CANADA MAR JOBLESS RATE 6.1% VS FORECAST 5.9%, PRIOR 5.8%

MNI: Canada Wages Up 5% Even With Highest Jobless Rate In 2Yrs

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI: US FEB CONSUMER CREDIT +$14.1B

MNI: BAKER HUGHES US RIG COUNT 620; OIL RIGS 508; GAS RIGS 110

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE Short APF Mon

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: China Banks' NPL Write-Offs Up A Third In 2020

(MNI) LONDON
BEIJING (MNI)

Chinese banks have written-off CNY3.05 in non-performing loans in 2020, up from CNY2.3 trillion in 2019, according to a Vice Chairman of China Banking and Insurance Regulatory Commission, Liang Tao. The overall non-performing loan ratio was 1.92%, down 6 bps from the beginning of 2020, Liang added.

Overall, the industry reported CNY2 trillion in net profits last year, Liang told a press conference organized by State Council Friday. Although the net profits of all banks were down 1.8% year-on-year, it recovered from the 8.3% y/y decline seen in Q3.

Speaking in August, Guo Shuqing, chairman of CBIRC, said China's banks would write off CNY3.4 trillion in bad loans in 2020.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Policy NewsHomepageAPACChinaBriefStoryRegion
True
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Policy NewsHomepageAPACChinaBriefStoryRegion
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.