China’s 6 Biggest Banks Report $1 Billion Profit Drop

The loss of profit in the banking sector indicates an all-round economic slowdown, even a stall, an analyst said.

The Industrial and Commercial Bank of China (ICBC) logo is seen on a building at the financial district in Shanghai on April 9, 2025. Hector Retamal/AFP

China’s six largest banks have posted first-quarter reports with a significant drop in both earnings and profits.

Experts said the profit drop in China’s banking industry indicates a stalling economy that is likely to continue to worsen as the effects of the tariff war between China and the United States kick in.