Banks of China increased semi-annual net profit by 6.4%

The aggregate net profit of China's commercial banks in the first half of 2018 increased by 6.37% year-on-year to 1 trillion 30 billion yuan, the National Committee for Control and Management of Banking and Insurance Activities said. As of June 30, the volume of assets of banks increased by 7% in annual terms and amounted to 260 trillion yuan. The share of bad loans increased to 1.86% from 1.74% in the previous quarter. The balance of debts on “bad” loans provided by banks increased to 1 trillion 960 billion yuan.

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