China Banks' Net Interest Margins Contracting, Jefferies Says

Shujin Chen, head of China financial and property research at Jefferies, talks about the state of China's banking industry. Industrial & Commercial Bank of China Ltd., the nation’s largest lender, reported its first decline in quarterly profit in more than a year. Agricultural Bank of China Ltd., said profit fell 1.6%, Bank of China Ltd. also reported a 2.9% on-year decline in net income, and China Construction Bank Corp.’s first-quarter profit slid 2.2%. Chen speaks on "Bloomberg Daybreak: Asia."
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