HONG KONG -- China's top four banks collectively reported an increase in total bad loans in 2023, as credit pressure rises in areas closely tied to the troubled property sector.
The "Big Four" state-owned banks, Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), China Construction Bank (CCB), and Agricultural Bank of China (ABC) reported this week that their total nonperforming loans reached 1.23 trillion yuan ($170 billion) in 2023, up 10.4% from 1.117 trillion yuan in 2022.
