China: Bank Profits Dip as Debt Exposure to Real Estate, Municipalities Mounts

Four of China's largest banks -- including the Industrial and Commercial Bank of China and the Bank of Communications -- revealed dips in their net interest margins to 1.28%-1.61% for 2023, down from 1.48%-1.92% in 2022 and below the 1.8% level regarded as a sign of decent profitability, Reuters reported on March 28....