RETAIL BANKING | Staff Reporter, China

Chinese banks' assets up 7.7% to $33.9t in March

Total liabilities rose 7.3% to $36.63t.

Onshore assets of China’s banking financial institutions including commercial banks, policy banks, and rural credit cooperatives grew 7.7% to $39.93t (RMB268.76t), according to the China Banking and Insurance Regulatory Commission (CBIRC) as reported by state news agency Xinhua.

Also read: Chinese banks' small business loans up 17% in Q1 as stimulus kicks in

Meanwhile, banks’ total liabilities of these institutions climbed 7.3% YoY to $36.63t (RMB246.51t).

According to data from the CBIRC, total assets of commercial banks grew 8.6% to account for 82.1% of the total assets of banking institutions. Meanwhile, their liabilities rose 8.3% YoY.

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