China’s Big Four Banks Accelerate Lending in September


Official data points to expanded lending by China’s long-standing big state-owned four banks in the month of September.

As of the end of September the domestic loan balance of Agricultural Bank of China (ABC), Bank of China (BOC), China Construction Bank (CCB) and Industrial and Commercial Bank of China (ICBC) stood at 51.87 trillion yuan according to data released by the Chinese central bank on 16 October.

The big four state-owned banks made new loans of 507 billion yuan in September, over 100 billion yuan ahead of lending in August.

373.6 billion yuan of big four loans extended in September were medium and long-term, while 170.5 billion yuan were short-term. Bills financing fell by 33.3 billion yuan.

Loans made by the big four state-owned banks in September accounted for 30% of all new loans throughout China during the period.

The big four-state owned banks made 4.2 trillion yuan in new loans in the first nine months of 2019, while the September lending figure was behind only the readings for January and June.