China Big Five Banks Post Strongest Profit Since 2022
Chinas five largest lenders reported first-half profit growth of three to five percent. Falling deposit costs eased pressure on lending margins despite weak credit demand.
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Industrial and Commercial Bank of China reported a 3.3% rise in first-half net profit on Friday morning, leading gains among China's top five lenders. The major state-owned banks posted profit growth between 3% and 5% as falling deposit costs eased pressure on lending margins. Lower funding costs helped lenders offset subdued credit demand across the slowing domestic economy.
