Briefly

Commercial banks to see H1 profits rising

China's commercial banks are expected to see a net profit increase of nearly 10 percent in the first half amid the country's economic growth and an improved business environment, according to a report by Bank of China. The BOC Research Institute said the banking sector will maintain growth momentum in the first half, with assets and liabilities up around 8.5 percent year-on-year. Commercial banks' asset quality will continue to improve, the report said, expecting the nonperforming loan ratio to decline to around 1.72 percent, and the nonperforming loan balance to see a small increase.

PBOC conducts reverse repos

China's central bank on Wednesday conducted 150 billion yuan ($23.6 billion) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People's Bank of China. The move aims to keep quarter-end liquidity in the banking system stable, the central bank said.

Xinhua