Postal Savings Bank of China : First-Half Net Profit Fell 10%

By Yi Wei Wong

Postal Savings Bank of China Co.'s net profit in the first half fell 10% as the impact of the Covid-19 pandemic on economy and businesses hurt the lender's performance.

The lender's net profit fell to 33.66 billion yuan ($4.90 billion) from CNY37.38 billion in the same period a year earlier, it said Sunday.

Net interest income gained slightly to CNY122.95 billion in the first half from CNY119.08 billion in the same period last year.

Postal Savings Bank of China will focus on enhancing its information technology capabilities and strategic positioning for its retail banking operations in the second half, it said.

Write to Yi Wei Wong at [e-mail]