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| Agricultural Bank reports RMB 816.1 bln non-performing loans |
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| 2008-02-24 | |
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Feb. 18, 2008 (China Knowledge) - Agricultural Bank of China (ABC), the last of China's Big Four state-owned banks which has not get listed, has reported a total of RMB 816.1 billion non-performing loans by the end of 2007, registering a dead loan rate of 23.64%. The figure is 11.5% higher than RMB 732 billion by the end of 2006. ABC's dead loan rate by the end of 2006 was 23.55%. The China Banking Regulatory Commission (CBRC) released the non-performing asset figures for the entire banking sector on February 13, 2008. They indicate that, for the year 2007, value of dead loans in China's banking sector along with the dead loan ratio decreased relative to 2006. However the figures for both measures rose in the 4th quarter in 2007, in which the value of dead loans shot up by RMB 35.1 billion, while the dead loan rate rose to 8.05%. Dead loans increased about RMB 60 billion for state-owned banks, while the above two measures for other banks shrink. Of all the five state-owned banks, only ABC reported losses on both figures. ABC contributed the most to the rising dead loans in China's banking sector. ABC started shareholding reforms earlier this year with the purpose of getting listed and traded publicly |
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