xi's moments
Home | Finance

China's commercial banks resilient against risks: regulator

Xinhua | Updated: 2024-06-11 09:46

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. [Photo/China News Service]

BEIJING - The balance of loan loss provisions of China's commercial banks came in at 6.9 trillion yuan ($970 billion) 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.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349