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Bank issues huge housing loans
( 2003-09-08 16:59) (Agencies)

The outstanding housing loans for individuals granted by the Industrial and Commercial Bank of China has, so far this year, surpassed 300 billion yuan (36.1 billion US dollars), the most among any bank in China.

Housing loans have recorded the best growth in the ICBC's asset business, a spokesman for the bank said Monday, citing that such loans exceeded 100 billion yuan (12 billion dollars), 200 billion yuan (24.1 billion dollars) and 300 billion yuan in 2001, 2002 and 2003, respectively.

A nationwide business and sales network has become operational, and various loan products can cater to the demand of different clients of the ICBC, he said.

While expanding business, the bank has been paying great attention to risk control. In the past few years, the amount of recalled housing loans was equal to slightly more than half of the loans issued simultaneously by the bank.

By the end of June, a total of 2.13 million clients were given housing loans by the ICBC, with their outstanding loans reaching 135,000 yuan (16,300 dollars) on average.

The ICBC spokesman said that mortgages were the major type of housing loans issued by the bank.

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