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Chinese banks’ assets rise 15.7%

Updated: Nov 10,2016 8:26 PM     Xinhua

BEIJING — Chinese banks held 222.9 trillion yuan ($32.84 trillion) in assets at the end of September, the country’s banking regulator said on Nov 10.

The figure represented an increase of 15.7 percent year on year, according to a statement posted on the website of the China Banking Regulatory Commission.

By September, the lenders’ liabilities rose 15.5 percent to reach 205.9 trillion yuan.

Banks reported slower profit growth during the first three quarters, partly due to a cooling economy.

Net profits of commercial lenders grew at a mild rate of 2.83 percent year on year to 1.33 trillion yuan during the first nine months, the statement said.