China's big banks post Q3 profit gains, squeeze on net interest margins By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2024
0mins
Should l Buy ?
Source: Investing.com
Third-Quarter Profit Increases: China's largest banks, including Agricultural Bank of China and Industrial and Commercial Bank of China, reported profit increases in the third quarter, primarily due to reduced provisions despite facing challenges like shrinking profits and weak loan demand amid a sluggish economic recovery.
Net Interest Margin Pressures: Several banks experienced a squeeze on net interest margins (NIM), with expectations that this pressure will continue as government policies aimed at supporting the economy are implemented, potentially affecting bank profitability and credit demand.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
