Big 4 banks provided 243 bln yuan of new loans in July
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China's four biggest banks?- Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank?- provided new loans of about 243 billion yuan (US$35.88 billion) in July. Loan growth slowed and met regulatory expectation, according to banking sources.
ICBC's new loans reached 73 billion yuan (US$10.78 billion) in July, totaling 600 billion yuan this year. ABC provided 63 billion yuan (US$9.3 billion) of new loans in July, bringing its total to 510 billion yuan (US$75.3 billion) for the year.
BOC's new loans in July reached 59 billion yuan (US$8.71 billion), while CCB had new loans of 48 billion yuan (US$7.09 billion). CCB's new loans total 502 billion yuan (US$74.12 billion), or about two-thirds of its quota, for the year.
China's business press carried the story above on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
