Date
20 August 2017

Big four banks lend 440 bln yuan in 20 days, paper says

China’s top 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) — granted 440 billion yuan (US$72.71 billion) of new loans in the first 20 days of the year, 21st Century Business Herald reported Thursday, citing a source with knowledge of the matter. The figure compares with about 300 billion yuan in the same period a year earlier. New loans this year could match last year’s 9 trillion yuan, a manager at a major state-owned bank was quoted as saying. Meanwhile, deposits in the four banks fell 700 billion yuan during the 20 days, suggesting liquidity problems, the report said.

– Contact HKEJ at [email protected]

TL/AC/RA

 

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