Debt crackdown bolsters China banks’ bottom lines

Three of China’s “big four” banks reported higher first-half profits on Wednesday thanks to a resilient economy and a government crackdown on excessive leveraging in the financial system that helped curb bad loans. Net profit at Bank of China, the country’s main foreign exchange bank, grew 11.5 percent year-on-year in January-June to 103.69 billion yuan […]
Source: bitcoinwarrior
Debt crackdown bolsters China banks’ bottom lines