China’s state banks close branches as coronavirus spreads

As the death toll rises, China’s big state lenders are being forced to shutter branches and Beijing has reacted by disbursing loans to afflicted companies – but the sector is also hit by slowing credit growth and a sharp rise in NPLs.

The People’s Bank of China in Beijing

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A provincial arm of one of China’s big-four state banks has taken a decision to close at least 10% of its branches, as coronavirus tightens its grip on Asia’s largest economy, Euromoney has learned.

The individual, a senior executive at the state-run lender, does not work in Wuhan, the capital of central Hubei province where the initial outbreak occurred, but in a well-developed part of the mainland far from its epicentre.

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