Date
20 October 2017

Big four banks start year with rise in new loans, paper says

China’s big four state-owned banks — Industrial and Commercial Bank of China Ltd. (01398.HK, 601398.CN), Agricultural Bank of China Ltd. (01288.HK, 601288.CN), Bank of China Ltd. (03988.HK, 601988.CN) and China Construction Bank Corp. (00939.HK, 601939.CN) — extended 320 billion yuan (US$52.97 billion) in new loans in the first 12 days of the year, compared with 270 billion yuan a year earlier, the Shanghai Securities News reported Wednesday, citing a source with knowledge of the matter. Some industry insiders forecast new loan growth to slow toward the end of the month, while the total for January could still surpass 1 trillion yuan, compared with 1.07 trillion yuan a year earlier. Meanwhile, deposits shed 550 billion yuan during the 12 days, compared with an increase of 1.2 trillion yuan in December, the report said.

– Contact HKEJ [email protected]

TL/AC/SK

 

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