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State-owned commercial banks issued larger loans to SMEs in H1 |
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11:28, July 29, 2009 |
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The amount of loans issued by state-owned banks to small and medium-sized enterprises (SMEs) grew rapidly, highlighting the large amount of credit extended in the first half of 2009.
By the end of June, the amount of SME loans extended by the Industrial and Commercial Bank of China (ICBC) stood at 2.3 trillion yuan. In the first half, the amount of new SME loans stood at 477.3 billion yuan, an increase of 26 percent. Currently, the amount of SME loans accounts for around 50 percent of ICBC's total corporate lending.
In the first half, the growth rate of the amount of new SME loans issued by the Bank of China was faster than the bank's average. By the end of June, the amount of SME loans extended by the Agricultural Bank of China reached 1.63 trillion yuan, accounting for 41.5 percent of the bank’s total lending, representing an increase of 322.5 billion yuan or 24.6 percent from the beginning of this year.
By People's Daily Online
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