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China's banking industry's assets hit RMB 118.6 trln by end-Mar

May. 4, 2012 (China Knowledge) -The total assets of financial institutions in the China’s banking industry were RMB 118.6 trillion at the end of March, up 18.8% year on year, according to a statement released the China Banking Regulatory Commission.

Large-scale commercial banks saw assets increased 14.8% year on year to RMB 55.7 trillion as of the end of the first quarter, while joint-stock commercial banks saw assets surge 22.1% to RMB 19.3 trillion.

The assets of city-level commercial lenders were RMB 10.3 trillion at the end of March, 28.3% more than a year earlier, and the assets of other banking financial institutions had grown 21.0% year on year to RMB 33.21 trillion at the end of March.

The combined liabilities of the banking industry had increased 18.4% year on year to RMB 111 trillion at the end of March. Liabilities of large commercial banks had risen 14.7% year on year to RMB 52.2 trillion.

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