Non-performing loans at the big four stateowned commercial banks rose by 3 per cent to Yn2,374bn between December 2001 and June 2002, according to a report compiled by US investment bank Salomon Smith Barney. Over the same period, the banks reported a drop in the ratio of bad loans to assets from 29 to 28 […]
Category: Banking & Finance
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Profit increases reported
China Construction Bank said it earned a pre-tax profit of Yn4.3bn in 2002, less than half the figure of Yn9.2bn reported for 2001. Pre-provision profit rose by 16.2 per cent to Yn34.4bn, but Yn30.1bn was used to write off bad loans. The bank said its non-performing loans ratio fell by 2.9 percentage points in 2002. […]
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New credit rating system set up
A new credit rating system covering all personal bank accounts in Shanghai went into operation at the end of 2002, South China Morning Post said. The system uses records provided by local banks, home and car finance companies and the city's two major mobile phone service providers. These were analysed with assistance from Trans Union […]
Fujian Industrial Bank has confirmed that it is in negotiations with potential foreign investors, the Financial Times said. Local media reports named Singapore's United Overseas Bank as one suitor for a stake. Fujian Industrial, which plans to raise capital through a share offering, has 250 branches and lends in and around its home province of […]
Japan's Mizuho Corporate Bank has formed a comprehensive tie-up with China's Bank of Communications. Under the arrangement, Mizuho's client companies entering the Chinese market will be able to receive yuan loans from Bank of Communications more easily. Mizuho will also buy accounts receivable held by Japanese firms against Chinese companies and sell them to Bank […]