Big four banks trade profits for provisions
Subscribe to keep reading.
Sign up to stay briefed on what the Chinese government is doing, thinking, and saying.
Already a subscriber? Log in.
The effect of the pandemic on the banks is getting real.
China’s big four banks posted first half profits over the weekend. They recorded their sharpest decline in over a decade.
Industrial and Commercial Bank of China’s (ICBC) net profit declined 11.4% in the first half compared with a year ...