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France Sells E10.355bn of OATs

CHINA PRESS: The profitability of Chinese banks is expected to improve next year
due to higher interest margins and lower credit costs, the Financial News, a
journal run by the People's Bank of China, reported Monday. Net profits of
listed banks are predicted to rise 6.61% year-on-year in 2018, compared with
4.3% growth this year, the report said, quoting industry insiders. Money market
rates will continue to rise as liquidity is tighten further under pressure from
financial deleveraging and stricter regulation, so the interest margins of big
banks will increase further, the report noted. Credit costs will decline as
non-performing loans are resolved. Bank provisions are growing, providing
support for managing their NPLs, the report argued. But banks will also face
bigger structural adjustment challenges as additional operating risks are
exposed next year. (Financial News)