Lower provisions help Bocom, ICBC, CCB and Postal Savings Bank post strong first-half profit

//Lower provisions help Bocom, ICBC, CCB and Postal Savings Bank post strong first-half profit

Lower provisions help Bocom, ICBC, CCB and Postal Savings Bank post strong first-half profit

Four leading state-owned Chinese banks on Friday reported double-digit growth in their first-half net profits, aided by lower loan loss provisions and the country’s steady economic growth.Postal Savings Bank of China topped the charts with a 21.8 per cent profit increase, followed by Bank of Communications (Bocom) at 15 per cent, China Construction Bank at 11.4 per cent and Industrial and Commercial Bank of China (ICBC) at nearly 10 per cent.Despite uncertainties surrounding the global economic…

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By | 2021-08-28T02:00:21+00:00 August 28th, 2021|Business|Comments Off on Lower provisions help Bocom, ICBC, CCB and Postal Savings Bank post strong first-half profit