- Wednesday 2010-03-10 18:30
New loan growth in February are expected to hit 700 billion yuan, reports China Securities Journal, citing an unnamed industry expert.
According to statistics released, new loans issued by the four state-owned (SOE) banks hit about 294 billion yuan.
Of these, Agricultural Bank of China issued new loans of close to 82 billion yuan, Industrial and Commercial Bank of China (601398, 1398.HK) issued close to 78 billion yuan of new loans, China Construction Bank (601939, 0939HK) lent close to 76 billion yuan while Bank of China (601988, 3988.HK) lent close to 58 billion yuan.
The China Banking Regulatory Commission (CBRC) has set the 2010 new loan quota at 7.5 trillion yuan. Over the four quarters, 2.25 trillion yuan, 2.25 trillion yuan, 1.5 trillion yuan and 1.5 trillion yuan are to be lent.
Industry experts predict that new loans in January and February will total 2.09 trillion yuan. This means that new loan growth in March will contract.
Share
0
