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Rising Bad Loans Erode State Banks' Profits: Daily

CHINA PRESS
MNI (Sydney)

Rising bad loans were largely responsible for profit falls at Chinese banks this year, according to a commentary in the Economic Daily. Bad loan provisions for commercial banks were at CNY5 trillion at the end of Q2, up CNY206 billion from Q1, the Daily said. The central government's push for banks to lower costs for client companies were offset with central bank measures, and therefore didn't contribute significantly to banks' reduced profits, the Daily 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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