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China bank's interest spread to stabilise -ICBC

Thu Jun 11, 2009 10:51pm EDT

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BEIJING, June 12 (Reuters) - The net interest spread in China's banking sector will begin to stabilise in the third quarter or soon after, Yang Kaisheng, president of Industrial and Commercial Bank of China (1398.HK), said on Friday.

The spread between lending and deposit rates has been one of the most reliable revenue sources for Chinese banks, but the gap between the two has steadily narrowed since late last year when the central bank began cutting interest rates, eroding banks' profits. (Reporting by Aileen Wang Simon Rabinovitch; Editing by Ken Wills)



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