China Banks Stop Mortgage Lending after Reaching Quota

China Banks Stop Mortgage Lending after Reaching Quota

Some Chinese banks have stopped mortgage lending to home buyers after it reached the 1st quarter credit quotas. This quota system was put in place to prevent China’s home prices from increasing too quickly. ICBC, Bank of China and Everbright Bank Co have already used up their allocated mortgage lending quotes.

Outstanding household medium-to-long term loans, an equivalent of mortgage loans, grew by 380.4 billion yuan in February

~ South China Morning Post

Outstanding household medium-to-long term loans, an equivalent of mortgage loans, grew by 380.4 billion yuan in February (US$55.17 billion), a drop from the 629.3 billion yuan growth in January,

Related Report: South China Morning Post

 


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Industrial and Commercial Bank of China Overtakes Well Fargo as World’s Most Valuable Banking Brand

Industrial and Commercial Bank of China Overtakes Well Fargo as World’s Most Valuable Banking Brand

ICBC has overtaken Wells Fargo for the first time to become the world’s most valuable banking brand. According to the Top 500 Banking Brands 2017 Ranking by UK-based The Banker magazine, the brand value grew 32% year on year to US$47.8 billion. China’s total banking brand valuation has also increased by 25% to US$259.2 billion.

“ICBC has overtaken Wells Fargo for the first time to become the world’s most valuable banking brand.”

~ South China Morning Post

The ranking of the most valuable banking brands globally, in its 11th year, determines the net present value of a bank’s trademark and associated intellectual property, or its brand value. ICBC, China Construction Bank, Bank of China and Agricultural Bank of China also made it into the top 10 global banking brands.

Related Reports: South China Morning Post, The Banker 

 

About ICBC

Through its continuous endeavor and stable development, the Bank has developed into the top large listed bank in the world, possessing an excellent customer base, a diversified business structure, strong innovation capabilities and market competitiveness. The Bank has its presence in six continents, and its overseas network has expanded to 41 countries and regions.The Bank provides comprehensive financial products and services to 5,090 thousand corporate customers and 465 million personal customers by virtue of the distribution channels consisting of 17,122 domestic institutions, 338 overseas institutions and 2,007 correspondent banks worldwide, as well as through its E-banking network comprising a range of Internet and telephone banking services and self-service banking centers, forming a diversified and internationalized operating structure focusing on commercial banking business and maintaining a leading position in the domestic market in the commercial banking sector.In 2014, the Bank was named the “Global Bank of the Year” by The Banker, ranked the first place among the Top 1000 World Banks by the Banker and the largest enterprise in the world among the Global 2000 listed by the US magazine Forbes for the second consecutive year.

Visit: ICBC

 


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Bank of China and China Merchants Bank Plans first Bad Loan Securitization Since 2008

Bank of China and China Merchants Bank Plans first Bad Loan Securitization Since 2008

Bank of China Ltd and China Merchants Bank are planning to sell bonds backed by non-performing assets, reviving a type of financing that would give the nation’s lenders another way to remove a growing pile of bad loans from their books.

“Bank of China plans to sell 301 million yuan (USD$46 million of the debt)”

~ Bloomberg

Bank of China plans to sell 301 million yuan (USD$46 million of the debt), according to a statement on Thursday. The sale, which would be the first for this type of deal since 2008, is scheduled for May 26, it said. The proposed bonds from Bank of China include a 234.8 million yuan senior portion and 66.2 million yuan in subordinated notes, according to the statement.

Related Reports: Bloomberg, Reuters

 

About Bank of China

As China’s most internationalised and diversified bank, Bank of China provides a comprehensive range of financial services to customers across the Chinese mainland as well as 41 countries and regions. The Bank’s core business is commercial banking, including corporate banking, personal banking and financial markets services. BOC International Holdings Limited, a wholly owned subsidiary, is the Bank’s investment banking arm. Bank of China Group Insurance Company Limited and Bank of China Insurance Company Limited, both wholly owned subsidiaries, run the Bank’s insurance business. Bank of China Group Investment Limited, a wholly owned subsidiary, undertakes the Bank’s direct investment and investment management business. Bank of China Investment Management Co., Ltd., a controlled subsidiary, operates the Bank’s fund management business. BOC Aviation Pte. Ltd., a wholly owned subsidiary, is in charge of the Bank’s aircraft leasing business.

Visit: Bank of China

 

About China Merchants Bank

Established in 1987 in Shenzhen, the forefront of China’s reform and opening-up drive, China Merchants Bank (“CMB”) is China’s first joint-stock commercial bank and also the first bank to attend the national experiment for the promotion of China’s banking industry reform driven by endeavors from outside the government.

Since its inception 24 years ago, CMB has grown with China’s economic progress from a small bank with a capital of 100 million yuan, one branch and over thirty employees into a nationwide joint-stock commercial bank that has a total net capital of 140 billion yuan, a total asset of 2.6 trillion yuan, over 800 branches and over 50,000 employees, ranking it among the world’s top 100 banks.

Visit: China Merchants Bank


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