Shenzhen Outstanding Construction Loans Less than Year Start

SHENZHEN, Sep 24, 2008 (SinoCast China Financial Watch via COMTEX) -- CICHF | Quote | Chart | News | PowerRating -- Outstanding construction loans at all Chinese financial institutions in Shenzhen hit CNY 8.8 billion as of August 31, 2008, down CNY 545 million than the year start.

Of these, the nation's big four state lenders, namely Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China (BOC) and Agricultural Bank of China (ABC), had CNY 3 billion, accounting for one third of the total.

Specifically, the Shenzhen branch of ICBC saw its outstanding construction loans stand at CNY 382 million as at the end of August, down CNY 198 million than the year beginning. The figure was CNY 810 million, CNY 100 million and CNY 1.64 billion for the Shenzhen branches of ABC, BOC and CCB respectively, a rise of CNY 810 million, CNY 100 million and CNY 349 million from the start of the year.

For joint-stock lenders, China Merchants Bank's outstanding construction loans were CNY 956 million as at the end of August, down CNY 295 million from the year beginning; and Industrial Bank's such loan outstanding were CNY 689 million as of end- August, down CNY 891 million from the start of the year.

The same situation goes with Bank of Communications, Guangdong Development Bank, Hua Xia Bank and China Minsheng Banking Corp. Ltd..

Whereas, some other shareholding banks saw a growth in their construction loans, such as Shanghai Pudong Development Bank, China CITIC Bank, China Everbright Bank, Shenzhen Development Bank and Shenzhen Ping An Bank. These five separately had outstanding construction loans of CNY 233 million, CNY 289 million, CNY 249 million, CNY 1.33 billion and CNY 1.06 billion as of August 31, 2008, representing a rise of CNY 64 million, CNY 215 million, CNY 79 million, CNY 121 million and CNY 357 million than the year beginning.

Meantime, infrastructure loans outstanding of the southern boomtown Shenzhen hit CNY 178.52 billion as at August end. Of the total, the Shenzhen branches of state-owned ICBC, CCB, BOC and ABC had CNY 127.2 billion in such loans outstanding, an increase of 20.59 billion than the year beginning.

Joint-stock lenders in Shenzhen had a total of CNY 30.96 in such loans outstanding, rising CNY 5.1 billion than January. Six of them posted positive loan growths while four posted negative growths. They are Pudong Development Bank, Everbright Bank, Merchants Bank and Shenzhen Ping An Bank.

(USD 1 = CNY 6.83)

From www.nanfangdaily.com.cn, Page 1, Tuesday, September 23, 2008 info@SinoCast.com

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