Overview
China closed a record 670 banks in one year, most of them regional banks.
The nonperforming loan ratio at regional banks reached 2.8%, nearly double the industry average.
Fitch sees little risk of contagion, but a city commercial bank failed in July.
Read the original article by Lockridge Okoth, “China Closes Hundreds of Banks: What Does It Mean for Bitcoin Investors?” on jp.beincrypto.com.
China closed a record 670 banks in one year, most of them regional banks.
The nonperforming loan ratio at regional banks reached 2.8%, nearly double the industry average.
Fitch sees little risk of contagion, but a city commercial bank failed in July.
Read the original article by Lockridge Okoth, “China Closes Hundreds of Banks: What Does It Mean for Bitcoin Investors?” on jp.beincrypto.com.