China’s banks report a good first quarter
(15 June 2012 – China) The China Banking Regulatory Commission (CBRC) said the country’s "city commercial banks" did very well during the first quarter of the year.
The banks recorded total assets of US$1.62 trillion (A$1.62 trillion) with deposits at US$1.1 trillion during the first quarter.
The city commercial banks, which constitute one of four sectors comprising China’s banking industry, recorded total assets of US$1.62 trillion with deposits at US$1.1 trillion during the first quarter.
City commercial banks tend to support their regional economies. They finance local infrastructure and other government projects. In the past few years, however, these banks have extended business beyond their home regions.
The loan balance for city commercial banks stood at US$720 billion. Of this total, US$210 billion were in loans to small and medium-sized enterprises.
The CBRC also said that city commercial banks had met the main risk control targets set by the government. Their average capital adequacy ratio reached 13.56 percent, higher than the 10.5 percent government requirement.
The city commercial banks, which constitute one of four sectors comprising China’s banking industry, recorded total assets of US$1.62 trillion with deposits at US$1.1 trillion during the first quarter.
City commercial banks tend to support their regional economies. They finance local infrastructure and other government projects. In the past few years, however, these banks have extended business beyond their home regions.
The loan balance for city commercial banks stood at US$720 billion. Of this total, US$210 billion were in loans to small and medium-sized enterprises.
The CBRC also said that city commercial banks had met the main risk control targets set by the government. Their average capital adequacy ratio reached 13.56 percent, higher than the 10.5 percent government requirement.
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