Chinese banks could post flat or falling profits in 2020 - PBOC article

SHANGHAI (Reuters) - Chinese lenders could post flat or even falling profits in 2020 despite earnings growth in the first quarter, as the coronavirus outbreak brings difficulties to the economy, the country's central bank said in an article on Sunday. For the first quarter of 2020, China's commercial banks realized net profits of 600.1 billion yuan (69.19 billion pounds), up 5% year-on-year, mainly due to the expansion of banks' assets and lower management costs, according to an article by the..