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Retail loans a bright spot for China’s major banks as coronavirus continues to bite into profits

Summary:
[unable to retrieve full-text content]Leading Chinese banks reported declines in their third quarter profits, as a swelling pile of sour loans among borrowers hit hard by the coronavirus continued to bite into their bottom lines.But the banks saw some recovery in their retail lending business, helped by mainland China’s economic rebound in the three months to September 30. The world’s second biggest economy grew by 4.9 per cent year-on-year.China’s retail borrowers’ ability to repay will continue to improve going into the fourth…

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[unable to retrieve full-text content]
Leading Chinese banks reported declines in their third quarter profits, as a swelling pile of sour loans among borrowers hit hard by the coronavirus continued to bite into their bottom lines.But the banks saw some recovery in their retail lending business, helped by mainland China’s economic rebound in the three months to September 30. The world’s second biggest economy grew by 4.9 per cent year-on-year.China’s retail borrowers’ ability to repay will continue to improve going into the fourth…

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