Guangdong Province Banking Sector Sees Total Assets Rise 9.3% at End of Third Quarter

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The Guangdong province banking authority has hailed stable operation of the regional banking sector in the third quarter of 2021.

As of the end of September Guangdong province banking actor financial institutions had total assets of 31.4 trillion yuan, for YoY growth of 9.3%, according to figures released by local banking authorities on 26 October.

Their collective lending balance was 21.5 trillion yuan, for a YoY rise of 13.9%, while total liabilities totalled 30.3 trillion yuan, for a YoY rise of 9.1%.

Loans to service the real economy rose 17.1%, 2.5 percentage points ahead of growth in all loans, while the manufacturing sector loan balance was 1.7 trillion yuan, for a YoY rise of 21.7%.

Infrastructure loans rose 16.5%, breaching the two trillion yuan threshold for the first time, while the micro and small-enterprise loan balance was 3.4 trillion yuan, for a YoY rise of 21.3%.

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