China's banking institutions register growth in total assets
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E-mail Xinhua, October 21, 2023
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BEIJING, Oct. 21 (Xinhua) -- China's banking financial institutions saw an increase in total assets, data from the National Financial Regulatory Administration showed.
The total assets of these institutions amounted to 409.8 trillion yuan (about 57.08 trillion U.S. dollars) at the end of the third quarter of this year, up 9.5 percent year on year.
The country's commercial banks reaped combined net profits of 1.9 trillion yuan at the end of Q3, up 1.6 percent year on year.
By the end of the third quarter, the non-performing loan ratio of commercial banks stood at 1.65 percent.
The regulatory body said it will continue to improve the ability of financial services to serve the real economy and ward off financial risks. Enditem
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