One of China’s big three policy banks has significantly stepped up its lending volumes since the start of 2021.
Agricultural Development Bank of China (ADBC) made a total of 1.77 trillion yuan in loans in the first three quarters of the year, for an increase of 251.3 billion yuan, or 16.6%, compared to the same period in 2020, according to results released by the lender on 14 October.
Renminbi loans increased 531.6 billion yuan, 31.5 billion yuan more than the figure for the same period in 2020.
As of the end of September ADBC’s non-performing loan ratio was 0.34%, for a decline of 0.02 percentage points compared to the start of the year, in what the lender said was a sign that it’s “high quality development momentum is strong.”
