Shareholding Banks' Business Improves After Reforms
BEIJING, February 5 (Xinhua) -- China's shareholding commercial banks, urban commercial banks and urban credit cooperatives have noticeably improved business operations and minimized financial risks, according to a statistical report released Tuesday by the People's Bank of China.The report says that these banks have made steady progress in managing deposit and loans by increasing market shares and lowering non- performing assets. Their operational profits have also risen significantly.
According to the report, by the end of 2001, the total assets of the three categories of financial institutions stood at 3.3962 trillion yuan, 23.66 percent above the previous year, and 19.8 percent of the country's total banking asset, 2.1 percent above the previous year.
Outstanding deposits reached 2.64 trillion yuan, 28.7 percent above the previous year; while the outstanding loans were over 1.75 trillion yuan, up 28.66 percent.
In 2001 shareholding commercial banks and urban commercial banks made an aggregate profit of 12. 915 billion yuan, 1.163 billion yuan more than the previous year.
The report says that the average rate of non- performing loans of national shareholding commercial banks was 12.94 percent in 2001, down 3. 42 percent on the previous year.
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