iChongqing Title

China's Commercial Banks Resilient Against Risks: Regulator

By Xinhua|Jun 11,2024

File photo shows an exterior view of the People's Bank of China in Beijing, capital of China. (Photo/Xinhua)

Beijing - The balance of loan loss provisions of China's commercial banks came in at 6.9 trillion yuan (about 970 billion U.S. dollars) at the end of the first quarter of this year, data from the country's financial regulator showed.

The figure increased by 269.8 billion yuan from the end of the previous quarter, further demonstrating the resilience of Chinese lenders against risks, according to the National Financial Regulatory Administration.

The lenders' provision coverage ratio stood at 204.54 percent at the end of March, down 0.6 percentage points from the end of last year, the data showed.

In the first quarter, the cumulative net profits of Chinese commercial banks reached 672.3 billion yuan, up 0.7 percent year on year.

The total domestic and foreign currency assets of financial institutions in China's banking sector stood at 429.6 trillion yuan, an increase of 8.1 percent year on year, the data indicated.


MUST READ

New Era, New Journey, New Chongqing

Internet illegal and undesirable information can be reported by calling this telephone number:+86-23-67158993

渝ICP备20009753号-2 互联网新闻信息服务许可证号:50120220004

I Agree
Our Privacy Statement & Cookie Policy

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser.

For any inquiries, please email service@ichongqing.info

About UsContact Us

Leaving a message
Back