Listed banks in China have seen a sizeable rebound in profit growth in the first half of 2019.
A new report from PwC indicates that 50-listed Chinese banks saw combined net profits of 991.2 billion yuan in the first half of 2019 for YoY growth of 7.6%.
The first half growth rate marks a significant increase compared to the YoY growth reading of 6.84% for the same period in 2018.
The report further indicates that the non-performing loan (NPL) ratio and overdue loan ratio of China’s big state-owned banks and joint stock banks continued to decline in the first half of the year, while the provision coverage ratio posted an increase.
As of the end of June 2019 the provision coverage ratio of 50 Chinese banks was 214.07%, for a rise of 15.51 percentage points compared to the same period last year.
