In this undated photo, retail customers pass by a branch of China Merchants Bank in Yichang, Hubei province. (LIU JUNFENG FOR CHINA DAILY)

BEIJING – China's listed banks posted improving performances in 2019 thanks to steady economic growth.

By Feb 6, 21 listed banks on the Shanghai and Shenzhen bourses had released their financial reports. The annual revenue in 2019 totaled 1.3 trillion yuan (about US$186.3 billion), up 14.11 percent year on year.

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Their net profits rose 10.9 percent year on year to 400.15 billion yuan, with 18 banks seeing their year-on-year growth rate exceed 10 percent.

All the banks saw growth in both revenues and net profits, while China Merchants Bank, one of the largest lenders in China, led the gains with revenues rising to 269.75 billion yuan and net profits nearing 93 billion yuan.

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The banking sector's assets quality also improved, with the non-performing loan ratio of 17 listed banks going down from 2018.