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China Merchants rises in earnings and bad loans

China Merchants Bank said net profit rose 25.68 per cent on the back of better fee income and loan business. Photo: Bloomberg

China Merchants Bank, the country's sixth-largest lender by market capitalisation, said bad loans rose for the second consecutive quarter as credit quality in the Yangtze River and Pearl River Delta regions deteriorated.

Saturday, 18 August, 2012, 3:10am

New loans weaker than expected

New loans advanced by banks on the mainland came in weaker than expected last month, suggesting a need for more effective stimulus policies to revive lacklustre demand in the economy, analysts say.

15 Aug 2012 - 11:29pm

America the beautiful

If you Google the words 'Harbin Pharmaceutical Plant', you will find photos of a palatial interior. The facility has marble floors, paintings and chandeliers.

This is a listed company, with a market capitalisation of about US$2 billion, and investors might ask why the plant is so extravagantly decorated.

18 Jun 2012 - 12:00am

New credit set for first fall since 2008

New credit in the mainland could fall for the first time since 2008, amid a weakening real economy and banks' tightening liquidity.

6 Jun 2012 - 12:00am

Beijing plans stimulus for target sectors

Beijing has pledged to support seven new strategic industries, including renewable energy, and kick-start 20 major projects as it moves to counter a sharp slowdown in economic growth.

31 May 2012 - 12:00am

Slower growth to hit banks

The era of high growth among mainland banks is looking increasingly hard to sustain, and the amount of local government loans becoming due in the next two years could exacerbate the situation.

31 May 2012 - 12:00am

Property gloom spreads on mainland

A record number of mainland cities saw a drop in new-home prices last month as Beijing continued to curb speculation in the property market.

Forty-six out of 70 monitored cities posted a year-on-year decline in prices in April amid the tightening measures.

19 May 2012 - 12:00am

Mainland bank lending down sharply in April

Mainland bank lending tumbled last month, reflecting weakening investment sentiment, partly reflecting slowing demand.

But the jury is still out on when the government may ease monetary policy to help the world's second biggest economy.

3 May 2012 - 12:00am

ICBC posts lacklustre earnings

Industrial and Commercial Bank of China (ICBC) has posted its slowest profit growth in three years, evidence that a sluggish economy is taking a toll on the country's biggest bank by assets.

Net profit rose 14 per cent to 61.3 billion yuan (HK$75.32 billion) year on year, missing Bloomberg's analyst estimates.

28 Apr 2012 - 12:00am

Profits highest for four years

Mainland banks last year posted their highest profits in at least four years, despite a slight rise in bad loans for some in the fourth quarter amid a slowing economy.

25 Apr 2012 - 12:00am

CCB sets sights on emerging markets

China Construction Bank yesterday said it would speed up overseas expansion this year, despite seeing a deterioration in asset quality at home along with other mainland banks.

27 Mar 2012 - 12:00am

Funds remain robust

The sale of funds in Hong Kong continued to rise last year, despite volatile equity markets and a depressed investment climate.

27 Mar 2012 - 12:00am

Developers to beat tough times

Mainland developers are in for hard times this year, but a loan default by a cash-strapped homebuilder is unlikely despite tough operating conditions and a tight credit market, say analysts.

19 Mar 2012 - 12:00am

State banks cut rates for first-home buyers

The mainland's big state banks and their smaller rivals in Shanghai have rapidly revived efforts to attract local mortgage clients, offering first-home buyers discount rates much lower than last year's industry average.

14 Mar 2012 - 12:00am

Price and rate cuts lift sales of homes

Property sales on the mainland climbed significantly this month amid a lowering of mortgage rates at banks and steep price cuts by developers at new projects.

14 Mar 2012 - 12:00am