Pursuits
Big China Banks Cut Bad Loans as Profits Beat Forecasts
- Construction Bank, Agbank report lower NPL ratios for 2016
- Industrial & Commercial Bank to post earnings later Thursday
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Two of China’s biggest lenders cut their bad-loan ratios as they notched improved profits in 2016, a sign that the nation’s banking industry benefited from a rebound late last year in the world’s second-biggest economy.
Earnings reports the past two days from China Construction Bank Corp. and Agricultural Bank of China Ltd., the nation’s second- and third-largest lenders by assets, both beat analysts’ estimates, helped by a drop in expenses. The country’s big banks are all releasing full-year results this week, with Industrial & Commercial Bank of China Ltd. due Thursday, and Bank of China Ltd. on Friday.