BEIJING (Reuters) - China Construction Bank’s chief finance officer said on Thursday that 56% of the bank’s new loans referenced the revamped loan prime rate (LPR) and it will beat a regulatory target of 30% by the end of September.
China’s central bank is not likely to cut benchmark interest rate amid LPR reform, but will show moves on the medium-term lending facility (MLF) rate, CFO Xu Yiming told a news conference in Beijing.
The bank’s net interest margin may fall by 1-2 basis point in the second half of this year, Xu added.
Reporting by Ma Rong, Leng Cheng, Vincent Lee and Beijing Monitoring Desk; Editing by Kim Coghill
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