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Construction Bank Sees Fast Growth in Individual Loans
The China Construction Bank (CCB) announced Thursday that it had provided 22.9 billion yuan (about US$2.77 billion) in individual use loans and 240 billion yuan in individual housing loans by the end of last year.
A spokesman with the CCB said that by 2000, the outstanding amount of CCB's individual use loans had exceeded 13.6 billion yuan, up 137 percent from 1999, while that of individual housing loans had grown to 240 billion yuan.
Apart from loans to support individuals' purchasing of cars and large durable products, home remodeling and education, the CCB offered new credit lines for individual loans, which allowed a revolving use of CCB loans throughout the whole country, the spokesman added.
Moreover, CCB's housing loans continued to take a lion's share of the housing loans market, with non-performing loans accounting for merely 1.2 percent of the total, the spokesman said.
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