The banks recorded total assets of US$1.62 trillion with deposits at US$1.1 trillion during the first quarter.
The China Banking Regulatory Commission said the country’s “city commercial banks” did well during the first quarter of this year.
These banks, which constitute one of four sectors comprising China’s banking industry, recorded total assets of US$1.62 trillion with deposits at US$1.1 trillion during the first quarter. The loan balance for city commercial banks stood at US$720 billion. Of this total, US$210 billion were in loans to small and medium-sized enterprises.
The CBRC also said that city commercial banks had met the main risk control targets set by the government. Their average capital adequacy ratio reached 13.56%, higher than the 10.5% government requirement.
City commercial banks tend to support their regional economies. They finance local infrastructure and other government projects. In the past few years, however, these banks have extended business beyond their home regions.
There were some 140 city commercial banks in China in 2009.
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