'Big Six' lenders enjoy steady growth in first 9 months of this year

China's six large State-owned commercial banks maintained steady growth in the first nine months of this year. They posted total net profit of 931.74 billion yuan ($132 billion) attributable to equity holders of the bank during this period, up 5.56 percent year-on-year.

Among the six lenders, Postal Savings Bank of China recorded the highest growth in net profit attributable to shareholders of the bank during the first nine months, which was 16.22 percent year-on-year, followed by Agricultural Bank of China Ltd (5.28 percent) and China Construction Bank Corp (5.25 percent), according to their financial results for the third quarter.

"The net profit of listed banks in the country will hopefully grow by around 7 percent in 2019, considering that total assets of the Chinese banking industry will maintain steady growth and the establishment of wealth management subsidiaries and the rapid growth of electronic banking will push up the banks' non-interest incomes,"Wang Jiaqiang, senior analyst at Bank of China Ltd's Institute of International Finance, said in a research report.