(Yicai Global) Jan. 30 -- All 13 banks listed in mainland China that have issued earnings forecasts for last year, none of which were Chinese Big Five lenders, have reported an increase in profit, and nine of them recorded double-digit expansion, indicating that things may be looking up for the sector.

Bank of Guiyang Co. posted the biggest jump in net profit among lenders that had released forecasts as of yesterday with a 24 percent annual increase to CNY4.5 billion (USD710 million). China Merchants Bank Co. forecast a 13 percent climb to CNY70.2 billion, the largest net profit in the lot.

China's banking sector had witnessed a slowdown in profit expansion for six years in a row before 2017 on falling net interest margins in a low rate environment and downward macroeconomic pressure weighing on asset growth. The country's 27 listed bank had a combined net profit of CNY1.3 trillion in 2016, marking a 0.9 percent rise over the previous year.

The banking sector attracted investments last year as its profit growth began to accelerate while the Chinese real economy gained steam.