A key profitability indicator at China’s biggest lenders has fallen to its lowest levels on record as a slowing economy and an official push to boost credit weigh on the country’s banking sector.
China’s six largest banks by assets have all posted their lowest-ever net interest margins — the difference between what a bank pays on its deposits and earns on its loans — in recent days, according to an analysis by the Financial Times.
The average margin across the six state-run lenders, including Bank of China and Industrial and Commercial Bank of China, the world’s biggest by assets, was 1.48 per cent at the end of last year, compared with 1.6 per cent the previous year. The last time it was above 2 per cent was in 2021.
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