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ICBC's small business lending 2011 Q1 balance surges 53.5b yuan
Author:Sino-report    Source:China Daily    Number of clicks :     Update time:2011-05-12 22:47
Sino-report News Center May 2011

BEIJING -- Industrial and Commercial Bank of China (ICBC), the country's largest bank, said Wednesday that
the balance of its lending to small businesses surged 53.5 billion yuan ($8.24 billion) in the first
quarter of 2011.
This amount accounted for 35.7 percent of the bank's total loan balance in the first three months, hitting
a record high, the bank said.
Further, the lender's credit to small businesses rose 11.6 percent in the first quarter, 8.2 percentage
points higher than the average growth in all sectors, in an attempt to support small businesses, the bank
said.
ICBC said it has worked to ensure lending to small businesses to bolster their development, even though the
government is tightening the overall money supply.

 

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