Chinese commercial banks gain margin relief, but subdued lending dims outlook
A rare uptick in margins lifted Chinese lenders in the second quarter, but falling loan demand and policy constraints loom large
Average NIM for commercial banks edged up 1 basis point to 1.41 per cent in the June quarter, from 1.40 per cent in the first quarter, according to the latest data released by the National Financial Regulatory Administration.
Performance diverged across sector tiers. State-owned lenders, city commercial banks, rural commercial banks and private banks all posted quarter-on-quarter gains, while joint-stock banks were unchanged and foreign banks saw margins narrow further.
Total social financing rose 1.4 trillion yuan in July, beating market expectations, as accelerated government and corporate bond issuance offset weaker bank lending, analysts said.
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