CHINAUS AFRICAASIA 中文双语Français
Business\Markets

Chinese private banks' assets reach 132.9b yuan by Q3

Xinhua | Updated: 2016-12-09 10:24

BEIJING - China's private banks recorded 132.9 billion yuan ($19.32 billion) in total assets by the end of September, data from the country's banking regulator showed Thursday.

The average non-performing loan ratio for private banks stood at 0.54 percent as of September, said the China Banking Regulatory Commission (CBRC) in a statement on its website.

By the end of the third quarter this year, the CBRC had given regulatory approval for the establishment of 11 private banks, and 6 of them have opened for business so far, according to the regulator.

The private banks' outstanding loans totaled 61.16 billion yuan by the end of September, while deposits amounted to 42.82 billion yuan, said the statement.

The CBRC said these private banks have provided quality financial service to boost the real economy by focusing on medium-sized and small firms, the agricultural sector, community businesses and start-ups.

The banking regulator also called on them to operate prudently and strengthen risk management to boost stability in both operation and ownership structure.

In 2014, the CBRC approved five private banks, including Tencent-backed Webank and Alibaba-backed MYbank. Previously, China had only one private bank, China Minsheng Bank, founded in 1996 in Beijing.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US