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Majority of listed banks report profit growth in 2019

(Xinhua)    17:01, March 17, 2020

BEIJING, March 17 (Xinhua) -- A majority of listed banks reported robust net profit growth in 2019, Economic Information Daily said Tuesday.

As of Monday, 24 of the 36 listed banks on the A-share market have released preliminary earnings results, with their total net profits reaching 439.1 billion yuan (around 62.7 billion U.S. dollars), up 10.9 percent year on year.

Altogether 19 listed banks saw net profit expansion of more than 10 percent, the paper reported.

The forecasts came amid a solid expansion of the Chinese economy in 2019 when banks' capital adequacy ratio improved and their capability to serve the real economy and resist risks strengthened, Wen Bin, chief researcher with China Minsheng Bank, told the paper.

China's listed banks have continuously improved their assets quality and profitability, he added.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: He Zhuoyan, Liang Jun)

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