The funding base of Agricultural Bank of China has also been hit by interest rate cuts raising average costs on its deposit funding base by 5 basis points. Photo: Edward Wong
The funding base of Agricultural Bank of China has also been hit by interest rate cuts raising average costs on its deposit funding base by 5 basis points. Photo: Edward Wong

Two of China's biggest banks post nearly flat profit growth

Flat results at ICBC and Agricultural Bank of China likely because of credit costs on loans and present gloomy outlook for the sector

The funding base of Agricultural Bank of China has also been hit by interest rate cuts raising average costs on its deposit funding base by 5 basis points. Photo: Edward Wong
The funding base of Agricultural Bank of China has also been hit by interest rate cuts raising average costs on its deposit funding base by 5 basis points. Photo: Edward Wong
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