Banking Sector Assets Hit $37 Trillion in June for 7.1% YoY Rise
The assets of the Chinese banking sector posted a year-on-year rise of 7.1% as of the end of June according to the latest data from the China Banking and Insurance Regulatory Commission (CBIRC).
CBIRC data indicates that Chinese banks held 253.4 trillion yuan (approx. USD$37 trillion) in assets as of the end of June, while their liabilities posted a 6.8% YoY increase to hit 233.2 trillion yuan.
China’s big five banks, comprised of the Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank and the Industrial and Commercial Bank of China, held total assets of 90.6 trillion yuan, or 35.7% of total sector assets.
The country’s over 130 municipal commercial banks held 32.3 trillion yuan in total assets, accounting for 12.9% of the sector total.