Source: China – South China Morning PostChina’s top banks face continued pressure, as a slowing economy, lower interest rates and weak loan demand weighed on first-half earnings.
Net profit at Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, fell 1.4 per cent in the first half from a year earlier to 168.1 billion yuan (US$23.5 billion), according to its interim results announced on Friday after the market closed.
Its net interest margin (NIM), a key indicator of a bank’s profitability, fell to 1.3…Read More