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Ping An Bank Squeezed by Default Risks, Tighter Regulations

By Wu Hongyuran and Leng Cheng
Ping An Bank reported a 2.1% growth in net profit for the first six months of this year thanks to stringent cost control, but revenues dropped for the first time since the bank's listing in 2013. Photo: Visual China
Ping An Bank reported a 2.1% growth in net profit for the first six months of this year thanks to stringent cost control, but revenues dropped for the first time since the bank's listing in 2013. Photo: Visual China

The marginal improvement of Ping An Bank’s first-half results suggests that Chinese banks are still weighed down by stubborn credit risks and regulatory curbs on interbank financing activities.

While the midsize bank on Friday reported a 2.1% growth in net profit for the first six months of this year thanks to stringent cost control, revenues dropped for the first time since its listing in 2013, and the nonperforming-loan ratio edged higher.

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