China's Biggest Banks Post Record First-Half Profits As BofA, RBS Stumble

China's five biggest banks posted first-half profits that surpassed the total of their 14 largest U.S. and European rivals, highlighting the Asian nation's financial power as other economies falter. ... China's banking regulator has also asked lenders to increase capital buffers and accelerate loan collection schedules for local government debt as it seeks to avert a banking crisis following the record $2.7 trillion credit boom that began in 2009. ... Globally, banking stocks have fallen too much, Wan said. Chinese banks may begin to recover once policy makers contain inflation and relax lending constraints, he said. – Bloomberg