China has been cutting new mortgage rates since last year to boost sales in its ailing property market, but the main result so far has simply been a rush by households paying off existing mortgages early, squeezing banks' profits. Lowering existing mortgage rates is expected to further weigh on...
Lowering existing mortgage rates is expected to further weigh on the banking sector's net interest margin (NIM) - a key gauge of profitability - which fell to a record low at the end of the second quarter, official data showed. To soften the hit on the margins, major state banks may al...
On the other hand, although the six banks’ balance of personal mortgage loans at the end of the period rose from the end of the previous year, the proportions of their personal mortgage loans declined from the end of last year, indicating that the growth rate of personal mortgage issuance ...
On the other hand, although the six banks’ balance of personal mortgage loans at the end of the period rose from the end of the previous year, the proportions of their personal mortgage loans declined from the end of last year, indicating that the growth rate of personal mortgage issuance ...
The CBN disclosed this in a circular titled, “Re: Guidelines on Accessing the CBN Standing Deposit Facility”, signed by Director, Financial Markets Departments, Dr. Angela Sere-Ejembi. The circular stated: “The remunerable daily placements by banks at the SDF shall not exceed N2 billion. ...
Guangzhou becomes the first among top Chinese cities to ease mortgage curbs. Here’s what you need to know about China in the past 24 hours 中国经济要闻 China’s largest banks are preparing to cut interest rates on existing mortgages and deposits, the latest state-directed measures to shore ...
Exercising its mandate, the Central Bank of Nigeria (CBN) last week revoked the operating licenses of 132 microfinance banks (MFBs) alongside three finance companies and four primary mortgage banks. According to the Governor of the apex bank, Godwin Emefiele, the firms had failed to fulfil or ...
"The policy to further reduce interest rate will help lower mortgage loans costs, which also should stimulate the housing consumption demand," Yan said. In the meantime, China's major state-owned commercial banks and some joint-stock banks announced reductions in deposit interest rates on Tuesday...
China’s four first-tier cities has lowered banks’ mortgage interest rate by 15 basis points, media reported Monday. According to the mortgage department at several branches of ICBC in Beijing, Guangzhou and Shenzhen, the over-five-year loan prime rate (LPR), on which many lenders base their...