Steady revenue growth for Chinese listed banks

BEIJING (XINHUA) – China’s listed banks posted improving performances in 2019 thanks to steady economic growth.

By February 6, 21 listed banks on the Shanghai and Shenzhen bourses had released their financial reports. The annual revenue in 2019 totalled CNY1.3 trillion, up 14.11 per cent year on year.

Their net profits rose 10.9 per cent year on year to CNY400.15 billion, with 18 banks seeing their year-on-year growth rate exceed 10 per cent. All these banks saw growth in both revenues and net profits, while China Merchants Bank, one of the largest lenders in China, led the gains with revenues rising to CNY269.75 billion and net profits nearing 93 billion.