China’s retail borrowers’ ability to repay will continue to improve going into the fourth quarter, the lenders forecast. Photo: Reuters
Retail loans a bright spot for China’s major banks as coronavirus continues to bite into profits
- Officials from China’s biggest banks reported that credit card business rebounded during the third quarter
- Still, banks’ bottom lines were weighed down by higher loan loss provisions, as borrowers hit hard by Covid-19 struggled to meet repayments
China’s retail borrowers’ ability to repay will continue to improve going into the fourth quarter, the lenders forecast. Photo: Reuters
