SHANGHAI—Five of China’s largest banks have said the country’s lenders face multiple headwinds this year that include the pandemic, global politics, and domestic turmoil in the real estate industry. On Wednesday, the world’s largest lender Industrial and Commercial Bank of China (ICBC), warned that China faces “shrinking demand, disrupted supply, and weakening expectations” in its annual earnings report. Agricultural Bank of China Ltd. (AgBank) signaled the same in its full year report. China’s banking industry is facing “a more complicated and severe business environment,” the country’s second-biggest lender by assets, China Construction Bank Corp (CCB), said on Tuesday. “The global epidemic will continue to recur, the easing policies of developed economies will be withdrawn, geopolitical conflicts will intensify,” Bank of China (BoC) also said on Tuesday. Meanwhile, the president of China’s Bank of Communications Co. Ltd. (BoCom), on Friday said it would be difficult for the bank to deliver satisfactory …