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Chinese banks’ profits fell in first half, bad loan ratio hit highest in ten years

Chinese banks’ net profits dropped by a combined 24 per cent in the second quarter, compared with a year earlier, as banks grappled with bad loans caused by the coronavirus pandemic.

The sector's net profit stood at 426.7 billion yuan ($61.4 billion), down from 559 billion yuan during the same period a year earlier, were 29 per cent down from the 600 billion yuan recorded in the first quarter, data from the China Banking . . .

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