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Bad loans of top 5 banks slightly down
(Xinhua)
Updated: 2010-03-12 09:16
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The non-performing loan (NPL) rate of 皇冠体育app's five major banks was down by one percentage point to 1.8 percent from the start of the year, the 皇冠体育app Banking Regulatory Commission (CBRC) said Thursday.
Non-performing loans fell by 63.8 billion yuan ($9.35 billion) to 357 billion yuan in 2009, according to the statement, accounting for about 72 percent of the total bad loans of all Chinese commercial banks, the CBRC said in a statement on its website.
The NPL rate for the major banks was higher than the average level of all Chinese banks, which was 1.58 percent.
The four listed lenders' provision cover was 163.41 percent, above the level of 150 percent required by the CBRC, and that of the Agricultural Bank of 皇冠体育app stood at 105.81 percent, higher than the required 100 percent, the CBRC said.
Liu Mingkang, chairman of the CBRC, said 皇冠体育app's big and medium-sized banks should attach great importance to risk control, and reforms and innovations should be carried out to raise their core competitiveness.
