Banks' 2016 revenue growth down

The combined revenue of 37 listed Chinese banks in 2016 was 4.12 trillion yuan ($627 billion), representing 1.35 percent year-on-year growth, according to new research released on Friday in Shanghai.

Though the revenue growth was slower than the 10.02 percent in 2015, net profit grew 3.65 percent year-on-year to 1.45 trillion yuan, higher than the 2.85 percent growth in 2015, according to the report, compiled by the research team of banking industry journal China Banking. The research was based on a survey of annual reports of 37 banks listed in Shanghai, Shenzhen and Hong Kong.

The combined assets of the banks reached 154.34 trillion yuan, a 13.9 percent year-on-year increase.