Bad loan ratio in China down to 6.1%

Agencies
Posted: 2008-07-21 09:47:47+05:30 IST
Updated: Jul 21, 2008 at 0944 hrs IST

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Beijing, July 21:: Bad loan ratio in commercial banks in China has been reduced to 6.1 per cent as of June 30 amidst efforts to strengthen risk control, the country's banking regulator said.

The figure was 0.62 percentage points lower when compared to the beginning of 2008, China Banking Regulatory Commission (CBRC) said.

The combined bad loans of major commercial banks reached 1.18 trillion Yuan (USD 172.48 billion) at the end of June, 24.71 billion Yuan less than at the beginning of this year, official Xinhua news agency said, quoting CBRC Chairman Liu Mingkang.

Banks should further increase risk prevention and boost capital adequacy in the second half, he said.

China's financial institutions extended a total of 2.7 trillion Yuan loans in the first half of the year, a 15.2 per cent jump rise from a year earlier, it said.

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Bad loan ratio in China down to 6.1%

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