The volume of loan portfolios of four major banks of China (Bank of China, Agricultural Bank of China, China Construction Bank Corp. and Industrial & Commercial Bank of China) has been reduced since 2009. This became one more sign of country’s economic weakness, the Ministry of Finance reports.
The total amount of the loans, disbursed by these banks as of late October, made up CNY 35.7 trillion (USD 5.6 trillion), having reduced for one month for CNY 65.6 billion, according to the data of the People’s Bank of China.
In the meantime the volume of high-risk loans as late of September made up almost CNY 4 trillion, non-performing loans – 1.59% of the total volume, or CNY 1.2 trillion.
The profit growth of major banks of China slowed down to 2% in January- September vs. 13% for the same period of the previous year.
