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Fujian Commercial Bank Funds Company Expansion
The Fujian Industrial Bank, a shareholding bank in southeast China's Fujian Province, approved Tuesday a one-billion yuan (about 120 million US dollars) loan package to five enterprises in this capital of east China's Zhejiang Province.
The joint stock bank has 15 branches in major cities and more than 240 sales outlets around the country. It is committed to financing firms that perform well in major commercial cities, said Huang Guangtong, a senior executive with the bank.
By the end of August, the bank's outstanding deposits reached 43.4 billion yuan (about 5 billion US dollars), and the outstanding loans amounted to 32.3 billion yuan (about 3.9 billion US dollars). The annual revenue growth rate was kept at 43 percent.
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