Web Exclusive

'Big Four' banks' new RMB loans soar

By Zhao Tingting (chinadaily.com.cn)
Updated: 2011-01-14 09:57
Large Medium Small

China's four biggest State-owned commercial banks issued credit totaling 240 billion yuan in the first ten days of January, National Business Daily reported Friday, citing interbank data.

Related readings:
'Big Four' banks' new RMB loans soar RMB loans to rise by $1.1 trillion in 2010: Gov't report
'Big Four' banks' new RMB loans soar China's new yuan loan growth to slow in 2011: BoCom
'Big Four' banks' new RMB loans soar China banks slow lending due to quota limits
'Big Four' banks' new RMB loans soar China banks halt new credit to developers this year-Report

The four big banks—Bank of China, Agricultural Bank of China, China Construction Bank, and Industrial and Commercial Bank of China (ICBC)—issued credit of 160 billion yuan in December 2010, accounting for one third of the nation's whole new loan volume that month.

This credit blowout was anticipated, the report said. The central bank's effort to fulfill its credit target for last year placed a curb on December's credit demand, which was met this month when the central bank didn't unveil its loan target for this year.