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MNI BRIEF: China Bad Loan Sales Ongoing: Regulator
China's banks may dispose of more bad loans than last year, Liu Zhiqing, the deputy head of the statistics department of the China Banking and Insurance Regulatory Commission (CBIRC), said Friday.
Banks disposed of CNY3.02 trillion bad loans in 2020, the highest level in recent years, but there were still CNY3.6 trillion non-performing loans outstanding at the end of Q1, up CNY118.3 billion from the beginning of this year, despite the bad loan ratio edging down 2 bps to 1.89%. MNI has previously reported that bad loans would continue to rise in 2021 eroding banks' probability.
Xiao Yuanqi, the vice chairman of CBIRC, said disposals now stood at more than CNY12 trillion over the last few years, reducing credit risk and opening up room for credit growth. The regulator will further streamline process to help banks to dispose of bad loans, he noted.
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