China's big banks post rise in Q3 profits, squeeze on NIM By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2024
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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, with AgBank leading at a 5.88% rise. Other major banks also saw profits grow by over 1%.
Net Interest Margin Pressure: Despite profit growth, three banks experienced a decline in net interest margins (NIM), indicating ongoing profitability challenges. Analysts predict continued pressure on NIM due to government policies aimed at supporting the economy.
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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.
