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CCB's yuan-denominated loans hit 708.5b yuan

(Xinhua)
Updated: 2009-07-29 13:23

China Construction Bank (CCB), the country's second largest commercial bank by market value, said Tuesday its yuan-denominated loans totaled 708.5 billion yuan ($103.7 billion) in the first half.

The loans increased by 19.77 percent over the same period last year, said the CCB in a report on its website.

The rise in credit was extended mainly to the commercial and service sectors, manufacturing sector and transportation sector, which accounted for 76.42 percent of the total loans.

Loans channeled to infrastructure projects alone amounted to 242 billion yuan, an increase of 23.71 percent over the same period last year.

Bank spokesman Wang Zhaowen said the bank would focus on avoiding business risks in the second half and was expected to grant more loans to infrastructure projects, small and medium-sized enterprises and the farming sector.