Chinese banks rushed to lend in the last three days of October6 November, 2012, 12:36. Posted by Zarathustra
Last week, we noted that Chinese big 4 banks saw drop in deposits and fall in lending in the first 28 days of October. For the first 28 days, big 4 banks have made RMB125 billion of loans.
But then, these same 4 banks rushed to lend RMB100 billion in the last three days of October, according to 21st Century Business Herald. This brings the total loans from the big 4 banks for the month to RMB220 billion. Meanwhile, after seeing RMB1.8 trillion drop in deposits, total deposits drop RMB1.25 trillion for the whole month, which means that deposits increased massively in the last three days of the month.
At the same time, bond issuance probably has continued to play a big part in total credit growth. Despite having the Golden Week holiday, total net issuance for the month amounted to RMB222.4 billion, which was flat compared with September according to the aggregate financing data.