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ICBC adjusts this year's lending

By Zhu Zhe and Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-03-05 11:19
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The Industrial and Commercial Bank of China (ICBC), the world's biggest lender by market value, will adjust this year's total amount of lending, Yang Kaisheng, ICBC president and a member of the Chinese People's Political Consultative Conference, told chinadaily.com.cn Friday.

Yang said that huge investments were made in the national economy last year to stimulate domestic demand, and bank loans witnessed a big expansion. This year's top priority is to restructure the economy in a way that ensures green, energy-efficient growth with high added value, so ICBC's total loans will be adjusted from last year as part of that restructuring.

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As for credit flowing in to the real estate sector, ICBC has always been prudent in extending housing loans, Yang said.

He said ICBC's capital adequacy ratio is higher than other comparable banks, and the bank does not face pressure to issue additional shares in the near future.

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