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A number of Chinese banks have announced they will discontinue certain deposit products that offer higher interest rates, the latest move by lenders to ease cost burdens as they face pressure on...
Bank of Communications said its property bad loan ratio jumped to 4.99 per cent from 2.8 per cent a year earlier. Read more at straitstimes.com.
Last year’s earnings of $30.3 billion were still below City expectations
HSBC posted a big drop in quarterly profit Wednesday after taking a $3 billion hit on its stake in China’s Bank of Communications (BoCom) and another charge related to exposure to the country’s troubled real estate industry.