Banking News
- Banks warned against complacency
Date: 30-Nov-2007 Sources: (Shenzhen Daily)
THE strong performance of domestic banks during the current economic boom should not make them over-confident, Zhou Xiaochuan, governor of the People's Bank of China, said Thursday.
'With the Chinese economy growing rapidly in recent years, some banks have been enjoying high profitability and improving all their performance indicators very quickly,'Zhou said. 'Under these circumstances, one should be particularly aware that the economy has its own ups and downs. There are always some good times in the economic cycle, but also some bad times. Only if you can withstand the impact of a downturn can you say your capacity has really improved,'he said.
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