Caixin OnlineFinance & EconomicsTop Stories Finance State-owned Banks Cut Profit Expectations for 2013
01.21.2013 17:35

State-owned Banks Cut Profit Expectations for 2013

Four of five institutions say they expect slower growth amid reforms and tightened credit supplies
By staff reporter Wen Xiu

(Beijing) – Four of the five state-owned banks have reduced their expectation for this year's profit growth, as banking reform continues and regulators keep a firm grip on credit supplies.

Only Agricultural Bank of China, the last of the five to list publicly, expects profit to grow at levels comparable with previous years because of a smaller base, executives from the five banks said in a recent industry meeting.

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