Foreign banks rake in the cash in Shanghai
(07 February 2013 – China) The highest ever profits for foreign banks operating in Shanghai reached a record US$2 billion (A$1.9 billion) for 2012.
The Shanghai Regulatory Bureau under China Banking Regulatory Commission reported the city has 22 foreign banks, 78 branches of foreign banks; 100 sub-branches of foreign banks and 83 representative offices of foreign banks.
In 2012, foreign banks in Shanghai had total assets of US$173 billion, total deposits of US$91.9 billion and a loan book worth US$68 billion.
Non-performing loans stood at 0.37 percent, much lower than the national banking industry average.
Foreign banks also maintained their edge in derivative trading and foreign currency loans.
Their derivatives business amounted to US$672 billion or a third of China's total.
Foreign currency loans granted by foreign banks in Shanghai constituted 40 percent of Shanghai's banking industry as a whole.
In 2012, foreign banks in Shanghai had total assets of US$173 billion, total deposits of US$91.9 billion and a loan book worth US$68 billion.
Non-performing loans stood at 0.37 percent, much lower than the national banking industry average.
Foreign banks also maintained their edge in derivative trading and foreign currency loans.
Their derivatives business amounted to US$672 billion or a third of China's total.
Foreign currency loans granted by foreign banks in Shanghai constituted 40 percent of Shanghai's banking industry as a whole.
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