20 January 2019

Big 4 lend 170 bln yuan in first 16 days of Feb, paper says

China’s top-four state-owned banks granted 170 billion yuan (US$27.97 billion) in new loans in the first 16 days of the month, most of which was issued in the first three working days after the banks ended a three-day cutback on lending, the 21st Century Business Herald reported Wednesday, citing an unnamed employee at a major lender. No comparison figures were given but previous reports said the 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) — issued 440 billion yuan in new loans in the first 26 days of January. Deposits in the four banks rose 38 billion yuan during the 16 days after an outflow of 940 billion yuan last month, the report said.

– Contact HKEJ [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe