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Construction Bank Stresses Individual Housing Credit
The China Construction Bank (CCB) announced Monday that in the coming five years it will put more emphasis on the development of individual housing loans, in an effort to raise the proportion of individual housing loans in all of its loans to 20 or 25 percent.
The CCB today published its five-year development plan for real estate financing businesses, formulating classified guiding opinions in accordance with the characteristics of individual housing loans in different regions.
The plan stresses that the bank will strictly control credit quality, trying to control the non-performing rate of individual housing loans to under two percent.
Statistics show that by the end of July, the CCB had granted individual housing loans of 184.8 billion yuan, with an outstanding amount of 129.3 billion yuan.
In the first half of this year, the CCB's outstanding amount of individual housing loans increased to 43 billion yuan, accounting for 9.89 percent of the bank's total newly increased loans, and the bank's share in the national individual housing credit market has exceeded 50 percent.
A spokesman for the CCB said that under the guidance of the plan, the bank will actively promote individual housing loans, real estate development loans and other related housing credit business.
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