Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
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.
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
