Banking News
- Major policy bank reports NPL ratio down to 0.66%
Date: 2-Nov-2007 Sources: (Xinhua Online)
BEIJING, Nov. 2 (Xinhua) -- China Development Bank, one of the nation's three policy banks, reduced its non-performing loan(NPL) ratio to 0.66 percent at the end of September, down from 0.68 percent recorded at the end of June, company sources said on Friday.
Meanwhile, the bank recorded a principal-and-interest recovery rate of 99.52 percent by the end of the third quarter, ensuring it has been among the leading group of global policy banks for 31 consecutive quarters.
At the end of September, the sources said, the bank's outstanding loans stood at 2.18 trillion yuan (291.3 billion U.S. dollars), up 8.7 percent on last year.
Of the total, 83 percent went towards coal production, electricity generation, transport, agriculture, forestry, water supply, telecommunications and infrastructure projects.
The total also included 299.1 billion yuan for rural areas, up 26 percent, and 29.4 billion yuan for smaller businesses, up 50 percent.
Between January and September, the bank issued loans of 25 billion yuan to environmental protection projects, and loans of 15.2 billion yuan to housing projects for urban low-income earners, the sources added.
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