In China, which creates a stable financial environment, quarterly profits of its banks are expected to increase by 3 percent.
According to the latest report released by the China Bank Research Institute, it is assumed that the profits of commercial banks will increase by around 3 percent in the second and third quarters of the year. In the report, which stated that there were clear signs of a smoothing in the profitability of China’s banking sector in the first half of the year, it was noted that the operational quality was stable. The information previously released by the China Banking and Insurance Regulatory Board showed that the net profit of commercial banks in the country increased 2.4 percent year on year in the first quarter to a total of 614.3 billion yuan (about $95.07 billion).
The China Bank Research Institute also predicted that the segment will offer a smoother growth trend in profits and strong risk balancing ability in the third quarter. According to the report, banks’ commercial scales will maintain a relatively high growth rate in the third quarter, as banks’ credit resources focus more on areas such as science-technology innovation and rural revitalization.
-Foreks News Center-