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ICBC Provides Loans for Non-Industrial Customers
The Industrial and Commercial Bank of China, one of the country's four major commercial banks, has expanded its loans to customers in non-industrial and commercial sectors, such as universities, research institutions, and hospitals.
Latest statistics from the ICBC show that so far this year, the bank has provided floating capital loans for these customers worth 44.8 billion yuan. The bank actually provided 1.36 billion yuan of floating capital loans, accounting for 13 percent of the bank's total.
An official from the bank noted that the non-industrial and commercial sectors have witnessed rapid development in past years. The banks need these sectors to increase customer numbers and these institutions also need bank loans to further develop.
The official noted that the ICBC is now able to provide loans for floating capital, major projects and housing mortgages.
To control risk, the bank also worked out measures to strengthen the management on the credit appraising, procedures of loans and loan surety.
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