Moderate rise in bank loans
Source: Xinhua |
July 4, 2012, Wednesday
|
Print Edition
Print Edition
CHINA'S bank lending may expand at a "moderate" range this year and the growth rate will see a notable retreat amid the slowing economy, according to a report released yesterday by the China Banking Association.
The association predicted new yuan-denominated loans would total 8 trillion yuan (US$1.26 trillion) to 8.5 trillion yuan this year, higher than 7.47 trillion yuan in 2011.
But the growth would be much slower than last year's 13.6 percent.
The report said the key interest rates for deposits and loans would stay relatively stable but trend downward.
It said the economic slowdown, financial reforms and tougher regulation in the banking sector would combine to drag down profit growth of Chinese banks. The growth of interest-bearing assets will slide slightly but will remain the major factor driving profits, the report said.
With an interest spread of 3.06 percentage points, the Chinese banks saw net profits grow 36.34 percent to 1.04 trillion yuan last year.
The association predicted new yuan-denominated loans would total 8 trillion yuan (US$1.26 trillion) to 8.5 trillion yuan this year, higher than 7.47 trillion yuan in 2011.
But the growth would be much slower than last year's 13.6 percent.
The report said the key interest rates for deposits and loans would stay relatively stable but trend downward.
It said the economic slowdown, financial reforms and tougher regulation in the banking sector would combine to drag down profit growth of Chinese banks. The growth of interest-bearing assets will slide slightly but will remain the major factor driving profits, the report said.
With an interest spread of 3.06 percentage points, the Chinese banks saw net profits grow 36.34 percent to 1.04 trillion yuan last year.
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