Category Archives: Banking

Per capita deposit reached 77,623 yuan (12,420 US dollar) in China

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Consolidated Report by ChinaAbout.net: Based on the released data by the People’s Bank of China (China’s central bank) on July 12, on the first half of 2013, the RMB deposits increased by 9.09 trillion yuan (1.466 trillion US dollar); and as of the end of June the RMB deposits in China reached 100.91 trillion yuan (16.1456 trillion US dollar), the number for the first time exceeded one hundred trillion yuan. In terms of a total population of 1.3 billion, the deposit is 77,623 yuan (12,420 US dollar) per capita.

Bank financial products yields soared to 7% triggering market concern

The current “liquidity crisis” in Chinese banks booms the financial market. Recently, the financial products yields continued to climb, some financial products are expected to offer yields as high as 7%. According to the Bank Rate Network statistics, as of yesterday, among the available financial products, 23 financial products’ expected return is higher than 6%. And these high yielding financial products are not all targeting at high-end customers, eight financial products request a minimum investment of only 100,000 yuan or US$ 16,000, and the investment period is less than three months.

Principal criminal of Qilu Bank ten billion fraud case received life sentence, nine departmental-level officials involved

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According to Xinhua News Agency, the Jinan Municipal Government briefed reporters on the 15th that the “12.06” forgery financial ticket case involving more than 10 billion yuan (US$ 1.6 million) which happened in 2010. It is learned that on 14 the Jinan Intermediate People’s Court pronounced the verdict of first instance, the defendant Liu Jiyuan was sentenced to life imprisonment.

Weakened profitability of listed banks in 2013 Q1

As of the evening of April 26, all 16 listed banks in the A share had announced the first quarter results. Compared with the commonly excellent results in the 2012 annual reports, in the first quarter the 16 listed banks’ profitability see significant weakening and a collective decline in net profit growth. According to the preliminary statistics done by the Beijing News reporter, in the first quarter the total net profit of the 16 listed banks amounted to 309.1 billion yuan 3.4 billion yuan, an increase of 12.6%, lower than the 20% growth rate in the first quarter of 2012.
From the size of the banks’ profit in the first quarter, ICBC is still the most profitable bank in first-quarter with its net profit reached 68.8 billion yuan, China Construction Bank’s net profit growth rate is the fastest among the four big banks in China, net profit growth of Agricultural Bank of China and Bank of China is only 8.26% and 8.09% respectively. In the first quarter, ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, Communication Banks with a total net profit of 234.9 billion yuan accounted for 76% of the total profit of the 16 listed banks.