Chinese listed banks see profit grow at slower pace amid coronavirus outbreak

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Profit generated by China’s listed banks continued to slow in the first quarter of the year, hurt by heightened macroeconomic uncertainties and the coronavirus pandemic.

Net profit of 36 listed banks that have disclosed earnings for the first three months totalled 496 billion yuan ($69.9 billion), rising 5.03 per cent from a year earlier, 2.35 percentage points slower than growth in the same period of 2019, according to the latest report from the global consulting group Ernst & Young.

Their revenue grew 7.23 per cent during the period, 9.35 . . .

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