China to let banks keep more of their profits-paper

Thursday, 02 February 2012 15:58

China's Central Huijin Investment Co, the state parent of the country's "Big Four" banks, has agreed in principle to cut the lenders' dividend payout ratio this year by 5 percentage points in order to help ease their capital strains, the 21st Century Business Herald reported on Thursday.

Huijin had already cut the ratio for Industrial and Commercial Bank of China , Bank of China and China Construction Bank by 5 percentage points in both 2010 and 2011, to the current level of 40 percent, the newspaper said.

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