EY listed-bank report highlights continued profit slowdown

The net profit growth of China's 16 A-share listed banks continued to slow in the first quarter of the year, while their non-performing loan balance exceeded 1 trillion yuan ($153.7 billion) along with a continued increase in the NPL ratio, according to a new EY report on the Chinese banking industry.

The A-share listed banks posted net profit growth of 2.66 percent in the period, falling 59 basis points from the previous year, the report said. The figures mean the net profit growth of listed banks, however, has now slowed for five consecutive years.

Steven Xu, partner of EY Financial Services in Greater China, said: "Narrower interest margin and increased provision resulted in further slowdown in net profit growth."