Arab Today, arab today chinas nonperforming loans rise
Last Updated : GMT 08:56:10
Arab Today, arab today
Arab Today, arab today

China's non-performing loans rise

Arab Today, arab today

Arab Today, arab today China's non-performing loans rise

Bank of China
Beijing - XINHUA

Non-performing loans in China's banking sector climbed to 1.18 trillion yuan (191.27 billion U.S. dollars) as of the end of 2013, up 101.6 billion yuan from the beginning of the year, official data showed on Friday.
Rural commercial banks had the highest non-performing loan (NPL) ratio of 1.7 percent, while large state-owned banks, medium-sized joint-stock commercial banks and city commercial banks all had an NPL ratio of below 1 percent, according to a report released by the China Banking Regulatory Commission (CBRC).
Commercial banks in east China's Zhejiang Province saw the highest NPL ratio of 1.98 percent, compared to 1.49 percent in the sector on average, the report said.
Meanwhile, manufacturing, wholesaling and retailing sectors reported the biggest chunk of bad loans, the report said.
Despite the rebound in bad loans, CBRC chairman Shang Fulin said that the banks' loan assets are generally stable.
"Commercial banks' NPL ratio, provision coverage ratio and capital adequacy ratio are all at relatively good levels compared to international peers," he said, adding that risks are under control.
The data showed that China's commercial banks' provision coverage ratio stood at 282.7 percent as of the end of last year, down 12.8 percentage points year on year. Provision coverage measures the capital set aside for bad loans. The Chinese banking regulator requires a provision coverage of no less than 150 percent.

 

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