They also increased their direct property lending by 50%.
According to The Australian Financial Review, the 23 per cent surge in corporate lending by Chinese banks in Australia over the past the year is a sign of their growing appetite for higher risk assets at a time when the big four banks are pulling back from the institutional lending market.
"The big four are under pressure in property lending because of regulations and are shedding corporate loans in a bid to lift return on equity. In the year to June Chinese banks lifted loans and advances 23 per cent from $26 billion to $32 billion, according to the latest banking statistics published by the Australian Prudential Regulation Authority," the AFR report said.
Read the full story here.
Do you know more about this story? Contact us anonymously through this link.