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Analysis of China’s Top 10 Listed Banks Results for the 1st Quarter of 2013
This newsletter presents the financial results and operating performance of the Top 10 Listed Banks in the 1st quarter of 2013.
The total net profit of the Top 10 Listed Banks at 2013 Q1 was RMB 288.59 billion, up 12.40% from 2012 Q1. This was significantly lower than the increase recorded in 2012 Q1. In 2013 Q1, seasonal factors resulted in an increase in the net profit by 43.69% as compared to 2012 Q4.
All the Top 10 Listed Banks experienced a growth rate ranging between 20% to 30% in 2013 Q1. In addition, CCB, ABC and CITIC experienced profit growth that exceeded 60% as compared with 2012 Q4.
Impact from the interest rate liberalisation on the banks’ net interest income has became more apparent.
In 2013 Q1, the average net interest margin (NIM) for the 7 banks which disclosed the NIM ratio was 2.62%, a decline of 0.02% as compared with 2012 , and its growth continued to slow down.
Previous issues of Banking Newsletter for the China banking community