Economics
China Banks’ Worst Year Since 2004 Seen as Bad Loans Climb
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China’s big five banks are at risk of their weakest full-year profit growth since at least 2004 after first-quarter results showed bad loans rising in a struggling economy.
Industrial & Commercial Bank of China Ltd. reported a 21 billion yuan ($3.4 billion) jump in soured credit in the first quarter, the biggest increase since at least 2008, in a filing on Wednesday.