China's largest state-owned banks post higher profits in Q3
China's largest state-owned banks reported higher profits in Q3, even as margins continued to shrink for some. All the banks reported a surge in "other operating income", without elaborating. Some benefited from lower provision charges. China's $61-trillion banking industry has been struggling with record low margins, falling profits and rising bad debt as they heed Beijing's directive to support the sluggish economy with cheap loans.Â
China's largest state-owned banks reported higher profits in Q3, even as margins continued to shrink for some. All the banks reported a surge in "other operating income", without elaborating. Some benefited from lower provision charges. China's $61-trillion banking industry has been struggling with record low margins, falling profits and rising bad debt as they heed Beijing's directive to support the sluggish economy with cheap loans.Â