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China Sept new bank loans rise to 1.9 trln yuan, top estimates

BEIJING, Oct 14 (Reuters) - Chinese banks extended 1.9 trillion yuan ($282.3 billion) in new yuan loans in September, up from August and exceeding analysts’ expectations.

Analysts polled by Reuters had predicted new yuan loans would rise to 1.7 trillion yuan in September as the economy continued to recover, up from 1.28 trillion yuan the previous month but largely in line with 1.69 trillion yuan a year earlier.

Broad M2 money supply in September grew 10.9% from a year earlier, central bank data showed on Wednesday, topping estimates of 10.4% forecast in the Reuters poll, which was the same pace as August.

Outstanding yuan loans grew 13% from a year earlier, unchanged from the gain in August. Analysts had expected 12.9% growth. ($1 = 6.7313 Chinese yuan) (Reporting by Lusha Zhang and Ryan Woo; Editing by Jacqueline Wong)

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