China’s commercial banks expected to see net profit up 10% in H1 (report-Xinhua)

Photo taken on Jan. 2, 2021 shows the light show at Lujiazui area in east China’s Shanghai. (Xinhua/Wang Xiang)

BEIJING, March 30 (Xinhua) — China’s commercial banks are expected to see net profit rise nearly 10 percent in the first half of 2022 amid the country’s economic growth and improving business environment, a report said. of the Bank of China. (BDC).

In the relevant report on the economic and financial outlook for the second quarter, the BOC Research Institute noted that the banking sector will maintain its growth momentum in the first half of this year, with assets and liabilities increasing by around 8.5% year-on-year.

Commercial banks’ asset quality will continue to improve, according to the report, which expects the non-performing loan ratio to decline to around 1.72 percent and the non-performing loan balance to see a slight increase.

In 2022, credit support will focus on key areas of the real economy, with priorities given to manufacturing, green industries, government-subsidized rental housing and services for the elderly, the report said.

Medium and long-term loans for the manufacturing sector are expected to increase by more than 30% year-on-year, while those for high-tech manufacturing will see faster growth, the report adds.

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