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Banks urged to help small firms with more loans
By Louise Ho |
January 19, 2012, Thursday
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Online Edition
Online Edition
THE Shanghai Banking Regulatory Commission urged banks in Shanghai to support small enterprises as a priority of work this year, it said today.
Shanghai banks have to provide better financial services for small enterprises, the Shanghai banking regulator said in a report after a work conference on this year's targets.
The regulator said banks must achieve two goals when providing loans to small enterprises. That is, the increase of such loans should not be smaller than the increase of total loans and the quantity of such loans have to be higher than that lent last year.
Local banks need to set up branches specialized in serving small enterprises, the regulator added.
It has become increasingly difficult for small enterprises to borrow from banks due to credit squeeze last year.
Shanghai banks have to provide better financial services for small enterprises, the Shanghai banking regulator said in a report after a work conference on this year's targets.
The regulator said banks must achieve two goals when providing loans to small enterprises. That is, the increase of such loans should not be smaller than the increase of total loans and the quantity of such loans have to be higher than that lent last year.
Local banks need to set up branches specialized in serving small enterprises, the regulator added.
It has become increasingly difficult for small enterprises to borrow from banks due to credit squeeze last year.
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