New bank loans from 4 largest banks exceed 100 bln yuan in November

15:45, December 01, 2009      

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China's four largest state-owned banks, namely the Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), China Construction Bank (CCB) and Bank of China (BOC), have issued over 100 billion yuan (14.65 billion U.S. dollars) of new loans in November, Shanghai Security News quoted an industry insider today.

According to earlier report, an official with China Banking Regulatory Commission (CBRC) predicted that total new loans in 2009 may be around 9.7 trillion yuan, higher than the market expectation of 9.5 trillion yuan. In the first ten months, new bank loans from domestic commercial banks stood at 8.92 trillion yuan.

As on-going projects need a large amount of credit to complete and investment in the real estate industry has been warming up, overall credit demand will remain stable in the future, despite the rapid credit expansion this year, said a report released by the central bank.

Hot individual housing mortgage loans were believed to be a probable reason for the month-on-month growth of new loans in November. Housing mortgage loans increased by around 25 percent in Beijing, according to 5i5aj.com.

By People's Daily Online
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