Mainland's banks tainted by bad assets, Fitch warns

Deterioration of asset quality and potential risks from wealth management products make for a gloomy outlook for mainland lenders next year, Fitch Ratings said yesterday.

The outlook for banks in the Asia-Pacific is stable, but China is one of the weakest spots in the region, the global credit rating agency said in a report.

The agency warned the impact on mainland banks' credit quality and solvency resulting from rampant credit growth had surfaced.

"Rising delinquencies are expected to persist in 2013," Fitch said.

via Business feed http://www.scmp.com/business/banking-finance/article/1105691/mainlands-banks-tainted-bad-assets-fitch-warns