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China’s Property Crisis Is Rippling Through Its Biggest Banks
China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loan ratios are creeping up. Bank of Communications Co. reported Wednesday that its property bad loan ratio jumped to 4.99% at the end of last year from 2.8% a year earlier. While the balance of its overdue mortgages slipped, the special mention loans for the segment — a leading indicator of soured loans — jumped 23% to 9.88 billion yuan ($1.4 billion). Its bigger rival, Industrial & Commercial Bank of China Ltd. saw its bad loans from residential mortgages rise 9.6% to 27.8 billion yuan, ... (full story)
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From @FirstSquawk|Mar 28, 2024|4 commentspost: JAPAN PM KISHIDA: APPROPRIATE FOR BOJ TO KEEP EASY MONETARY CONDITIONS JAPAN PM KISHIDA: GOVT, BOJ WILL RETAIN CLOSE COOPERATION ON ECONOMIC POLICY JAPAN PM KISHIDA: WILL PROMISE TO ENSURE WAGE GROWTH KEEPS EXCEEDING INFLATION NEXT YEAR post: Japan PM Kishida: Closely Watching FX Moves with a High Sense of Urgency Japan’s PM Kishida: Will Not Comment on FX Market Intervention post:
JAPAN'S PM KISHIDA: WE WILL TAKE APPROPRIATE ACTION WITHOUT RULING OUT ANY OPTIONS TO DEAL WITH EXCESSIVE FX MOVES.
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- Posted: Mar 28, 2024 6:35am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,258
