Chinese Mainland Major Profit Contributor
By Maggie Zhang |
00:32 UTC+8 May 20, 2010
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Print Edition
Print Edition
THE Chinese mainland is still the main profit contributor for overseas banks with their locally incorporated entities posting a combined profit of 4.6 billion yuan (US$673 million) last year, the Shanghai branch of the banking regulator said yesterday.
"The global financial crisis has hit overseas banks but their locally incorporated units posted a strong performance in 2009," the Shanghai Bureau of the China Banking Regulatory Commission said yesterday.
Bad loan ratio at the locally incorporated overseas banks in Shanghai was low at 0.8 percent. Their combined capital adequacy ratio is 19.32 percent, higher than the stricter regulatory minimum of 11 percent that China imposes on the big four state-owned banks.
Individual credit tumbled in the first quarter of 2009 but rebounded in the same quarter this year. Outstanding individual loans topped 51 billion yuan at the end of 2009, an annual jump of 60 percent.
The total assets of overseas banks topped 970 billion yuan at the end of 2009, up 6 percent from a year ago.
"The global financial crisis has hit overseas banks but their locally incorporated units posted a strong performance in 2009," the Shanghai Bureau of the China Banking Regulatory Commission said yesterday.
Bad loan ratio at the locally incorporated overseas banks in Shanghai was low at 0.8 percent. Their combined capital adequacy ratio is 19.32 percent, higher than the stricter regulatory minimum of 11 percent that China imposes on the big four state-owned banks.
Individual credit tumbled in the first quarter of 2009 but rebounded in the same quarter this year. Outstanding individual loans topped 51 billion yuan at the end of 2009, an annual jump of 60 percent.
The total assets of overseas banks topped 970 billion yuan at the end of 2009, up 6 percent from a year ago.
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