China’s four major banks extended a combined 182 billion yuan (US$29.87 billion) in new loans in October, a drop of almost 40 billion yuan year on year, Shanghai Securities News reported Thursday. Analysts attributed the fall to seasonal factors and tighter credit in the fourth quarter. The big four banks are Industrial and Commercial Bank of China (01398.HK, 601398.CN), Bank of China Ltd. (03988.HK, 601988.CN), China Construction Bank (00939.HK, 601939.CN) and Agricultural Bank of China (01288.HK, 601288.CN). New loans by all financial institutions for the month were estimated at 550 billion yuan, the report said.
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