Chinese commercial banks’ net profit growth is on a downward trend mainly due to a decline in interest rates on loans and narrowing net interest margins, a National Financial Regulatory Administration (NFRA) official said on Wednesday.
The average interest rate on new issued corporate loans in the first seven months this year fell by 39 basis points compared to the same period last year, Liao Yuanyuan, director of the Statistics and Risk Surveillance Department at the banking sector regulator, told a press conference.
Source: REUTER
