May 06, 2025
Chinese Banks in Free Fall
Timothy Birdnow
Trump's policies are working.
China’s 6 Biggest Banks Report $1 Billion Profit Drop
FTTA:
I've always said China is a paper tiger, and the kitty is now being neutered. We could have done this any time we liked; it just took the will to do it.
Trump's policies are working.
China’s 6 Biggest Banks Report $1 Billion Profit Drop
FTTA:
China’s six largest banks have posted first-quarter reports with a significant drop in both earnings and profits.
Experts said the profit drop in China’s banking industry indicates a stalling economy that is likely to continue to worsen as the effects of the tariff war between China and the United States kick in.
The six Chinese major banks, which are all state-owned—Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Postal Savings Bank—released their first-quarter data on April 29. Taken together, their net profit attributable to parent companies fell by 7.3 billion yuan ($1 billion) compared with the same period in 2024—a decrease of about 2 percent.
Among them, Industrial and Commercial Bank of China (ICBC), the world’s largest lender by assets, saw a 4 percent net profit drop year-over-year. The Bank of China posted a 2.9 percent decrease from the year before.
The six banks reported a total revenue of 910.2 billion yuan ($125 billion) in the first quarter, a year-over-year decrease of 13.9 billion yuan ($1.9 billion).
Experts said the profit drop in China’s banking industry indicates a stalling economy that is likely to continue to worsen as the effects of the tariff war between China and the United States kick in.
The six Chinese major banks, which are all state-owned—Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Postal Savings Bank—released their first-quarter data on April 29. Taken together, their net profit attributable to parent companies fell by 7.3 billion yuan ($1 billion) compared with the same period in 2024—a decrease of about 2 percent.
Among them, Industrial and Commercial Bank of China (ICBC), the world’s largest lender by assets, saw a 4 percent net profit drop year-over-year. The Bank of China posted a 2.9 percent decrease from the year before.
The six banks reported a total revenue of 910.2 billion yuan ($125 billion) in the first quarter, a year-over-year decrease of 13.9 billion yuan ($1.9 billion).
I've always said China is a paper tiger, and the kitty is now being neutered. We could have done this any time we liked; it just took the will to do it.
Posted by: Timothy Birdnow at
09:10 AM
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Chinese banks are state owned and profits do not have the same impact that they do for our banks. In any case, a 2.9% or 4% drop is hardly anything to get excited about.
Posted by: Bill H] at May 07, 2025 08:48 AM (Q7br2)
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Agred Bill, but it shows that tthere the Chicom banks are trending down - and I do nott believe when they report a number. Remember, it's the Chinese government that is giving out this data. It is likely much higher.
That said your point is salient.
That said your point is salient.
Posted by: Timothy Birdnow at May 08, 2025 07:47 AM (OD4Ey)
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