21 January 2019

Big 4 banks add 350 bln yuan new loans in January, 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) – added a combined 350 billion yuan (US$57.75 billion) of new loans in January, the 21st Century Business Herald reported Monday, citing an unnamed authority source. The figure compares with about 440 billion yuan newly added loans in the first 26 days of the month and 376.7 billion yuan in the same time a year earlier, suggesting the banks compressed new loans in response to central bank pressure. Meanwhile, deposits in the four banks fell about 450 billion yuan in January, compared with about 700 billion yuan in the first 20 days, the report said.

– Contact HKEJ [email protected]



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