China's largest state banks said the impact of restrictions on movement imposed to slow the spread of the coronavirus could pull down asset quality as borrowers struggle to repay loans, though they are likely big enough to weather any fallout.
China's largest lenders - Industrial and Commercial Bank of China Ltd , China Construction Bank Corp and Bank of Communications Co Ltd - posted annual profit growth of over 4per cent for 2019 due in part to improving asset quality. Big-bank confidence is down in part to plush capital reserves which can help ease the impact of a downturn.
"We estimate non-performing loans will total 250 billion yuan in the best-case scenario as a result of the outbreak," said analyst Liao Zhiming at TF Securities."The pattern of low provisions, high non-performing loans and high overdue loans suggests rural commercial banks are short of capital," Gavekal Dragonomics said in a client note.
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