{"id":73865,"date":"2026-10-30T05:09:41","date_gmt":"2026-10-30T09:09:41","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/chinese-banking-giants-post-strong-q3-growth-binance-eyes-withdrawal-resumption\/73865\/"},"modified":"2026-10-30T05:09:41","modified_gmt":"2026-10-30T09:09:41","slug":"chinese-banking-giants-post-strong-q3-growth-binance-eyes-withdrawal-resumption","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/chinese-banking-giants-post-strong-q3-growth-binance-eyes-withdrawal-resumption\/73865\/","title":{"rendered":"Chinese Banking Giants Post Strong Q3 Growth; Binance Eyes Withdrawal Resumption"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Major Chinese banks reported robust Q3 earnings<\/strong>, with Industrial and Commercial Bank of China (<a href=\"\/stock\/01398\">01398<\/a>) posting a <strong>10% year-over-year net income jump<\/strong> to <strong>111.96 billion yuan<\/strong>.<\/li>\n<li><strong>Binance is on track to resume withdrawal services within 45 hours<\/strong> following a massive security incident that saw an estimated <strong>$6.3 billion<\/strong> in unauthorized movements.<\/li>\n<li><strong>Germany\u2019s labor market showed resilience<\/strong> as October unemployment claims rose by only <strong>4,000<\/strong>, coming in below the expected <strong>5,000<\/strong> increase.<\/li>\n<li><strong>Japan\u2019s Finance Minister Satsuki Katayama<\/strong> confirmed the government is weighing how to handle the surplus from the <strong>Bank of Japan&#39;s (BOJ)<\/strong> accelerated <strong>ETF sales<\/strong> in upcoming budget formulations.<\/li>\n<li><strong>ECB Governing Council member Olli Rehn<\/strong> warned that the outlook for growth and inflation remains <strong>&quot;very uncertain,&quot;<\/strong> echoing the central bank&#39;s data-dependent stance.<\/li>\n<\/ul>\n<h2>Chinese Financials Lead Earnings Wave<\/h2>\n<p>China\u2019s &quot;Big Four&quot; lenders demonstrated significant recovery in the third quarter despite ongoing domestic economic headwinds. Industrial and Commercial Bank of China (<a href=\"\/stock\/01398\">01398<\/a>), the world&#39;s largest lender by assets, reported a <strong>net income of 111.96 billion yuan<\/strong>, a <strong>10% increase<\/strong> compared to the previous year. The bank&#39;s <strong>net interest income reached 177.82 billion yuan<\/strong>, suggesting a stabilization in margins even as the broader economy faces a protracted property crisis.<\/p>\n<p>Similarly, Bank of China (<a href=\"\/stock\/03988\">03988<\/a>) reported a <strong>6.4% rise in net income<\/strong> to <strong>63.89 billion yuan<\/strong>, while China Construction Bank (<a href=\"\/stock\/00939\">00939<\/a>) saw a <strong>9.8% increase<\/strong> to <strong>104.66 billion yuan<\/strong>. These results indicate that China&#39;s top-tier financial institutions are successfully navigating a period of weak credit demand. Meanwhile, energy giant CNOOC (<a href=\"\/stock\/00883\">00883<\/a>) reported a <strong>net income of 33.30 billion yuan<\/strong>, up <strong>2.7%<\/strong>, though its <strong>revenue of 112.91 billion yuan<\/strong> slightly missed analyst estimates of <strong>119.43 billion yuan<\/strong>.<\/p>\n<h2>Binance Recovery and Global Macro Shifts<\/h2>\n<p>In the cryptocurrency sector, Binance is moving toward normalizing operations after a historic security breach. The exchange reaffirmed a <strong>45-hour timeline to resume withdrawal services<\/strong>, as security teams complete a &quot;revamp&quot; of withdrawal address controls. Binance has pledged to <strong>cover all losses<\/strong> through its Secure Asset Fund for Users (SAFU), noting that while <strong>$6.3 billion<\/strong> was impacted, roughly <strong>$3 billion<\/strong> has already been frozen through collaboration with blockchain partners.<\/p>\n<p>On the macroeconomic front, European markets received a mixed signal. <strong>Germany&#39;s unemployment rate held steady at 6.4%<\/strong> in October, with the number of unemployed persons rising by <strong>4,000<\/strong>, a smaller increase than the <strong>12,000<\/strong> seen in September. However, ECB official Olli Rehn emphasized that <em>high uncertainty<\/em> persists regarding the inflation path. In Japan, Finance Minister Katayama\u2019s comments on the <strong>BOJ&#39;s ETF sale surplus<\/strong> highlight a strategic shift as the central bank accelerates its divestment from the stock market, aiming to reduce its <strong>37 trillion yuan<\/strong> portfolio over the next 43 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major Chinese banks reported robust Q3 earnings, with Industrial and Commercial Bank of China (01398) posting a 10% [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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