China’s six largest banks have posted first-quarter reports with a significant drop in both earnings and profits.
Experts said the profit drop in China’s banking industry indicates a stalling economy that is likely to continue to worsen as the effects of the tariff war between China and the United States kick in.
The six Chinese major banks, which are all state-owned—Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Postal Savings Bank—released their first-quarter data on April 29. Taken together, their net profit attributable to parent companies fell by 7.3 billion yuan ($1 billion) compared with the same period in 2024—a decrease of about 2 percent….
China’s 6 Biggest Banks Report $1 Billion Profit Drop
