Banks cut bad loan ratio
By Feng Jianmin and Zhang Fengming |
July 30, 2011, Saturday
|
Print Edition
Print Edition
BANKS in Shanghai have cut their bad loan ratio to a record low, the local banking regulator said yesterday.
The regulator also ordered banks to extend financial support to small and medium-sized enterprises, the Shanghai Bureau of the China Banking Regulatory Commission said in an e-mailed statement yesterday.
Shanghai's banks had combined outstanding non-performing loans of 23.9 billion yuan (US$3.7 billion) and a non-performing loan ratio of a record low of 0.66 percent by the end of June, according to the statement. Non-performing loans were 3.3 billion yuan less than the beginning of the year, and the ratio was down 0.14 percentage point.
The figure partly eased concerns that 10.7 trillion yuan of lending to local governments may spur a wave of bad debts.
"Banks should intensify management of credit and risks, and should cooperate with the regulator and industry associations to maintain an equal and transparent environment," the statement said.
Meanwhile, loans to SMEs rose in the first half of the year.
Loans to SMEs grew 7.89 percent from a year earlier to 645.85 billion yuan at the end of last month, the statement said.
The regulator also ordered banks to extend financial support to small and medium-sized enterprises, the Shanghai Bureau of the China Banking Regulatory Commission said in an e-mailed statement yesterday.
Shanghai's banks had combined outstanding non-performing loans of 23.9 billion yuan (US$3.7 billion) and a non-performing loan ratio of a record low of 0.66 percent by the end of June, according to the statement. Non-performing loans were 3.3 billion yuan less than the beginning of the year, and the ratio was down 0.14 percentage point.
The figure partly eased concerns that 10.7 trillion yuan of lending to local governments may spur a wave of bad debts.
"Banks should intensify management of credit and risks, and should cooperate with the regulator and industry associations to maintain an equal and transparent environment," the statement said.
Meanwhile, loans to SMEs rose in the first half of the year.
Loans to SMEs grew 7.89 percent from a year earlier to 645.85 billion yuan at the end of last month, the statement said.
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