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China banks' 2013 new yuan loans at 8.9 trillion yuan-sources
January 6, 2014 / 10:21 AM / in 4 years

China banks' 2013 new yuan loans at 8.9 trillion yuan-sources

BEIJING, Jan 6 (Reuters) - China’s banks extended a total of 8.9 trillion yuan ($1.5 trillion) worth of new loans in 2013, three sources with knowledge of the situation said on Monday, roughly in line with market expectations.

Based on Reuters’ calculations, this means Chinese banks extended around 500 billion yuan worth of new yuan loans in the month of December. China’s central bank is scheduled to release December’s loan data between Jan 10 and Jan 15.

For all of 2013, Chinese banks’ outstanding loan growth was 14.2 percent while banks’ non-performing loan ratio stood at 1.05 percent as of December, the sources said, citing a speech made on Monday by Shang Fulin, the head of China Banking Regulatory Commission, China’s bank regulator. ($1 = 6.0515 Chinese yuan) (Reporting by Victoria Bi and Koh Gui Qing)

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