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China's Big Five lenders see margins shrink in the first quarter - Reuters https://t.co/9ZTQ9w0Eg9 via @YahooFinance
China's Big Five lenders see margins shrink in the first quarter https://t.co/nBh3wubw4o https://t.co/ASXjb4EQ3n
“Chinese lenders are in the midst of a prolonged squeeze that has narrowed margins to record lows. Beijing has over past few years called on banks to cut loan rates & beef up lending support to areas incl its cash-strapped property sector and local govts.” https://t.co/LV7ykuqXTM
Chinese big banks are reducing financing for Russia-related transactions, leading some Chinese companies to seek alternative financing from small banks on the border and underground channels like money brokers and banned cryptocurrency. Agricultural Bank of China, a major state-owned lender, reports a 1.63% decline in Q1 profit due to narrowing margins. Overall, China's top lenders are facing margin pressure, with loan margins at record lows.