State-owned Banks Cut Profit Expectations for 2013
(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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