JPMorgan expects slower growth for Chinese banks

07/31/2013 | Bloomberg

Profit could decline at Chinese banks as credit growth slows during the next several years, says Josh Klaczek, head of Asian financial services at JPMorgan Securities. "Growth and profits would be increasingly challenged," he said. "Given the pressures we are seeing right now in terms of asset quality, in terms of slower revenue growth versus rising costs, and then on top of that potential interest-rate liberalisation, that's a recipe for earnings falling."

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