Big banks diversify as profits slow

Nation's largest State-owned lenders are also speeding up their global expansion

China's three largest commercial banks are stepping up business transformation as their profit growth hit a record low last year amid the economic slowdown and interest rate liberalization.

All three banks posted a slim growth in net profit attributable to shareholders of the parent company, ranging from 0.14 percent to 0.74 percent in 2015, compared with 5 to 8 percent a year earlier.