People walk pass Agricultural Bank of China Tower in Central, Hong Kong. Three of the country’s five largest banks have already reported first-half profit growth of between half a percentage point and 1.3 per cent, all weighed down by dwindling net interest income. Photo: Edward Wong

China’s major banks look to non-interest income for growth as rates liberalisation crimps profit margins

Mounting bad debt among corporate clients and the slowest economic growth in decades forces sector heavyweights to diversify their income streams

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People walk pass Agricultural Bank of China Tower in Central, Hong Kong. Three of the country’s five largest banks have already reported first-half profit growth of between half a percentage point and 1.3 per cent, all weighed down by dwindling net interest income. Photo: Edward Wong
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