China's stimulus plans are choking the profitability of its megabanks, analysts say

From cnbc.com

China’s largest state-owned banks are likely to see their record low profit margins decline even further as Beijing’s broader stimulus package comes into play, analysts say. The net interest margins (NIM), a key proxy of bank profitability, at China’s “Big 4” lenders — Industrial and Commercial Bank of China (ICBC) , China Construction Bank, Bank of China, Agricultural Bank of China — fell by an average of around 20 basis points in the first nine months of 2024 from a year ago, CreditSights analysts said in a report. ICBC, the world’s largest lender by asset, was the only major lender among the Big 4 ... (full story)