by Amruth Sundarkumar | Oct 3, 2022 | Banks, China
The People’s Bank of China (PBOC) has told six of its largest state-owned banks to provide at least CNY 600bn ($85bn) in funding to the state’s troubled real estate sector, according to Bloomberg. In the last four months of 2022, the banks which include ICBC and China...
by Amruth Sundarkumar | Sep 26, 2022 | Banks, China, Financial Institutions
In the latest state-led measure for property developers, China Construction Bank (CCB) will set up an RMB 30bn ($4.2bn) fund for a 10-year period to buy properties from Chinese developers. CCB will “invest in existing assets” of real estate companies and...
by bondevalue | Apr 30, 2021 | China, Financial Institutions
China’s large state-owned banks reported earnings in-line with estimates: China Construction Bank (CCB) led profit growth, up 2.8% YoY, reporting a net income of CNY 83.1bn ($12.9bn). Impairment losses rose to CNY 52.3bn ($8.1bn). The lender reported an NPL ratio of...
