2023-10-21 06:32:15
BEIJING, October 21, 2023 (Xinhua) – China’s banking financial institutions have seen an increase in total assets, data from the National Financial Regulatory Authority showed.
The total assets of these institutions reached 409.8 trillion yuan (regarding 57.08 trillion US dollars) at the end of the third quarter of this year, an increase of 9.5 percent year on year.
The country’s commercial banks reaped combined net profits of 1.9 trillion yuan at the end of the third quarter, an increase of 1.6 percent year on year.
As of the end of the third quarter, the non-performing loan ratio of commercial banks reached 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.
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