[photopress:Bank_of_China.jpg,full,alignright]The National Audit Office (NAO) reports that it has identified ‘questionable’ loans of over RMB9.3 billion ($1.2 billion) in three top commercial banks, mostly given to real estate firms.
The three banks are the Bank of China (BoC), the nation’s second largest bank, the Bank of Communications, the fifth largest, and China Merchants Bank.
Since 2002, the BoC has issued problem loans of RMB5.51 billion, the Bank of Communications RMB1.94 billion and China Merchants Bank RMB1.9 billion.
According to a report released by the NAO, most of these loans went to unqualified real estate companies and fraudulent personal mortgages.
Source: Zeenews.com
 reports that it has identified \'questionable\' loans of over RMB9.3 billion ($1.2 b){kind=link}
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