China’s big banks set for slowest profit growth since IPO

China’s top four banks are on course for their weakest annual profit growth since going public, as the central bank’s interest rate cuts in the middle of the year kick in, slicing lending margins.

After posting profit gains of more than 20 per cent for years, the so-called “Big Four”, led by Industrial and Commercial Bank of China (ICBC), are expected to report growth of as little as 5 per cent this year, according to Thomson Reuters Starmine.

via Business feed http://www.scmp.com/business/banking-finance/article/1073885/chinas-big-banks-set-slowest-profit-growth-ipo