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Agricultural Bank Sees Sharp Rise in Housing Loans
The residential housing loan business of the Agricultural Bank of China (ABC) has experienced sharp rise over the past year, with market shares going up considerably.
By the end of May, the outstanding amount of residential housing loans granted by the ABC had exceeded 75.5 billion yuan (about US$9.68 billion), compared with the corresponding figure of 5.48 billion yuan at the end of last year.
A spokesman for the bank said that the ABC's newly increased housing loans have maintained fairly good quality.
At the same time, he said, the bank's housing loan management level has been steadily improved, the electronic processing of individual loans has started and staff performance has improved, creating favorable conditions for further development of the housing loan business.
He said that this year the ABC's housing loan business will focus on the increase of high-quality market shares, stressing individual housing loans and real estate development loans.
Attention will also be paid to product innovation, professional management and the development of a quality client base, so as to make the housing loan business one of the bank's best business species.
This year the bank plans to increase individual housing loans by 20 billion yuan, while real estate development loans will be increased by 20 percent.
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