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.
) Chief Risk Officer Liu Jiandong said after the lender published annual results on Friday. The bank’s president added that the impact is likely to be short-term and controllable.
Big-bank confidence is down in part to plush capital reserves which can help ease the impact of a downturn. China’s largest banks have also benefited from preferential government policies such as support to tackle bad loans. They often lend to the biggest state-owned firms which are less risky and which helps buoy profit even during economic downturn.Inner Mongolia lender Baoshang Bank Co Ltd was rescued by the government in May and there was a run on Yingkou and Yichuan Rural Commercial Bank in November.
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