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High SME loan growth for Agricultural Bank of China

High SME loan growth for Agricultural Bank of China

(01 March 2013 – China) Agricultural Bank of China (ABC) reported a record growth in loans to small and medium sized enterprises (SMEs), representing a 25 percent growth over 2011. Loans hit US$96 billion (A$93 billion) in 2012, a growth rate higher than the bank’s average loan growth rate.

ABC's personal business loans exceeded US$96 billion, up US$8 billion over the previous year.

The growth rate was 24 percent, the bank said hundreds of thousands of individual business and small and micro-enterprises benefited from these loans.

ABC has actively expanded its financing channels for SMEs by leveraging its advantages in comprehensive financial services. It has also issued "set bills" that allow SMEs to do this.

Last year, ABC was awarded the 'Advanced Financial Institution of Providing Financial Service for Small and Micro Business' by the China Banking Regulatory Commission (CBRC).

It also received the 'Excellent Institution in Serving Medium-sized and Small Business for 2012' from the China Association of Small and Medium Enterprises.
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