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Four state-owned banks' new loans reach 160 bln yuan in August
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16:28, September 03, 2009

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The credit data in August is not as pessimistic as forecast. Four state-owned banks’ increased new loans of RMB in August similar with the previous month, keeping to the amount of 160 billion yuan. With a market share of 45 percent, new loans may remain at 350 billion yuan.

Among the four state-own banks, the surge of loans from Bank of China (BOC) was the fastest in August, increasing 72 billion yuan, which lead to the breakthrough of one trillion yuan of new loans this year, reaching 1.06 trillion yuan. Li lihui, president of BOC, expressed at the performance conference that the scale and pace of new BOC loans will be pioneering among its peers. He thought that the increment and growth of BOC loans is the highest amid its peers, which is meant to further improve the competitiveness of BOC.

However, apart from BOC, the other three state-owned banks- Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC) and China Construction Bank (CCB), new loan levels are not as high. ICBC’s new loans reached 38 billion yuan in August. By the end of August, its new loans total amounted to 900 billion yuan. ABC’s new loans in August reached 20 billion yuan. By the end of August, its new loans total amounted to 842.6 billion yuan.

In the first half of 2009, China's new loans reached about 7.37 trillion yuan, among which, financing notes were worth 1.7 trillion yuan, accounting for 23 percent. But, as those notes became due, many banks’ note financing substantially diminished or even appeared to be in negative growth

Among the four state-owned banks, CCB is the best bank for credit control. CCB's new loans in August totaled 34.7 billion yuan, increasing 798.7 billion yuan compared with the beginning of 2009. It is the first of China's large state-own banks to lower the pace of credit. Guo Shuqing, chairman of China Construction Bank (CCB) stated on the half year fiscal report meeting referring to the decision by CCB to slow down credit pace in the second half of 2009.

By People's Daily Online



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