BEIJING -A scramble by Chinese policymakers to tackle a debt crisis in the property sector and shore up theeconomyis set to deal a blow to theearningsprospects for bigbanksas they are pressed into the task of boosting credit demand.
China’stopfive state-ownedbanksare expected to post a sharp decline in revenue and narrower net interest margins (NIM) as they turn in half-yearly results, with China Construction Bank kicking-off the reporting season on Wednesday.
The results will come against the backdrop of record-low credit growth in July, default risks at some housing developers and missed payments by a private wealth manager linked to shadow banking that has raised contagion r…
Keep on reading: Pressure to revive economy muddies earnings outlook for China’s top banks
