Source:
https://scmp.com/business/banking-finance/article/1224191/profits-rise-mainland-china-banks-headwinds-hit-growth
Business/ Banking & Finance

Profits rise at mainland China banks but headwinds hit growth

China's economic slowdown cuts earnings growth from pace of recent years

At ICBC, profit growth beat the 10 per cent expected by many analysts, but slowed from the 14.5 per cent rate of all of last year.

The mainland's three largest banks yesterday posted first-quarter growth in net profit ranging from just over 8 per cent to almost 16 per cent year on year.

Those increases were smaller than last year's as the lenders felt the effects of the country's economic slowdown.