Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Chinese auditors find more than 9.3 bln yuan of suspect loans at three banks
+ -
09:55, July 21, 2007

 Related News
 Zoellick hopes fresh proposals can lead to world trade deal (2)
 Johannesburg bourse ends in black on oil, gold
 Kenya bourse drops UK-owned firms in index lineup (2)
 Kenya bourse drops UK-owned firms in index lineup
 Comment  Tell A Friend
 Print Format  Save Article
Chinese auditors have identified more than 9.3 billion yuan (1.2 billion U.S. dollars) of questionable loans in three top commercial banks, the National Audit Office (NAO) announced on Friday.

The three banks are the Bank of China (BOC),the nation's second largest bank, the Bank of Communications, the fifth largest, and China Merchants Bank.

Since 2002, the BOC has issued problem loans of 5.51 billion yuan, the Bank of Communications 1.94 billion yuan and China Merchants Bank 1.9 billion yuan.

Most of the loans went to unqualified real estate companies and fraudulent personal mortgages, according to a report released by the NAO on Friday.

The BOC was suspected of 21 cases involving illegal activities, the report said. The Bank of Communications and China Merchants Bank were each suspected of eight such cases.

Last month, the NAO released the annual audit report, showing in 2006 almost seven billion yuan of misappropriated government funds and more than 37 billion yuan being improperly managed.

Source: Xinhua



  Your Message:   Most Commented:
Ambassador reviews Germany-China relations
President Hu vows to remain committed to "one country, two systems" principle
CPC full of vigor and vitality
Roadside bomb blast kills 26 people in SW Pakistan
Chinese leader urges college united front members to make more contribution

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/6220947.pdf