Thanks to a 'cocktail of policy measures'.
According to Reuters, four of China’s ‘Big Five’ state-owned banks reported higher quarterly profits and slower growth in bad loans, helped by a resilient economy and checks on the shadow banking sector.
"The improved results from top lenders in the world’s second-largest economy come after successive interest rate cuts dented their interest margins - a key gauge of profitability - while loan defaults rose sharply among struggling borrowers. The improvement has been aided by a cocktail of policy measures, such as debt-for-equity swaps for struggling state borrowers," the report said.
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