China’s banking sector’s NPL ratio fell to 1.79% at the end of March – regulator
Adds details, background
BEIJING, April 15 (Reuters) – China The banking sector’s non-performing loan (NPL) ratio was 1.79% at the end of March, down 0.03 percentage points from the start of the year, the country’s banking and insurance regulator said on Friday. .
OTotaled current NPLs 3.7 trillion yuan ($580.54 billion) at the end of the first trimesterWang Zhaodi, spokesperson for China Banking and Insurance Regulatory Commission (CBIRC)said one press conference. No comparison figure was given for the end of 2021.
China’s banking sector’s total assets rose 8.9 percent in the first quarter from a year earlier, while total liabilities rose 8.8 percent, Wang said.
Liu Zhongrui, a CBIRC official, said lending from banks in the Yangtze River Delta, which covers Jiangsu, Zhejiang, Anhui and Shanghai, had so far shown little impact from a lockdown. prolonged COVID-19 in Shanghai.
Banks in Jiangsu, Zhejiang and Shanghai extended 2.6 trillion yuan in new loans in the first quarter, up 14.7 percent year on year and 3.7 percentage points above the national average, said Mr. Liu.
“We need to strike a balance between steady growth and risk protection,” Liu said, adding that the regulator will step up its efforts to ensure financial support for supply chains, which are disrupted by strict anti-virus measures. .
China’s central bank is expected to roll out further stimulus soon to cushion a sharp economic slowdown, although it kept the rate on its medium-term lending facility unchanged as expected on Friday.
($1 = 6.3734 Chinese yuan renminbi)
(Reporting by Tina Qiao, Ellen Zhang and Kevin Yao; Editing by Muralikumar Anantharaman and Kim Coghill)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.