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China Big 4 banks' new loans up RMB 20 bln in Jan-Feb

Mar. 5, 2012 (China Knowledge) - China's Big Four banks saw new RMB loans they extended in January and February increased by RMB 20 billion from a year earlier, said Yang Kaisheng, president of Industrial and Commercial Bank of China, or ICBC<601398><1398>, one of the Big Four banks.

The other three lenders consist of Bank of China<601988><3988>, the nation's third-largest lender, China Construction Bank Corp<601939><0939> and Agricultural Bank of China Ltd<601288><1288>.

Yang noted ICBC extended RMB 165.5 billion worth of RMB loans in the first two moths of 2012, RMB 15 billion more than in the same period of last year, adding that the lender's non-performing loan ratio has been reduced from 1.05% last year to current 0.91%.

Chinese financial institutes added RMB 738.1 billion RMB loans in January, much less than a previous forecast of RMB 1 trillion, sources reported without disclosing the new loan amount in February.

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