China's top four state-owned banks have loaned ¥110 billion ($1 = ¥6.83) in September compared to ¥165.8 billion a month ago, inter-bank data have shown. This was the lowest amount of monthly loans issued this year.
Bank of China (SHA: 601988, HKG: 3988) became the smallest lender of the four from the biggest after extending just ¥3 billion in loans in September, substantially down from ¥72.2 billion in August. Its total loans added up to ¥1.1 trillion for the first eight months.
Industrial & Commercial Bank of China (SHA: 601398, HKG: 1398), the world's largest lender by market value, extended ¥30 billion in September, taking its total loans so far this year to around ¥930 billion.
China Construction Bank (SHA: 601939, HKG: 0939), the nation's No 1 mortgage lender, issued ¥44 billion worth of loans making it the top lender in September.
Agricultural Bank of China, which is about to go public on the Shanghai bourse, lent ¥30 billion in September, slightly above the August level.
China's central bank started tightening bank lending in July after it surged an astonishing 201% in the first half of 2009 fuelling a 7.1% economic expansion. The figure for July was ¥355.9 billion, down sharply from more than ¥1.5 trillion in June.
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