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Banks' new strategies amid financial crisis

(chinadaily.com.cn)
Updated: 2008-11-24 16:16

Related publication: Related readings: Bank giants back rail construction plans Shanghai Pudong Bank denies talk of restarting shares sale WB reduces '09 growth rate to 7.5%

Although banks in China face nowhere near the challenges confronting their overseas counterparts in the financial crisis, they are sure to expect a tough year ahead because of uncertainties in the nation's economy and the gloomy global economic outlook.

Slower economic growth, a narrowing interest spread, the falling of export-oriented companies and the cooling housing market are eroding Chinese lenders' profit growths, while raising the default loan levels.

Foreign lenders in China, which focus on offering wealth management services, are also suffering because of the poor performance of their products stemmed largely from the fallout from the financial crisis that was outside their control.

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The full text is available in the November Issue of China Banking.