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NPLs of China's big state banks decline in Q1

(Xinhua)
Updated: 2008-05-17 13:58

The total non-performing loans (NPL) of the Agricultural Bank of China (ABC) probably reached 803.1 billion yuan (about $114.7 billion) in the first quarter, down 0.42 percent from a year earlier, according to a website statement on Wednesday by the China Banking Regulatory Commission (CBRC).

The NPLs of the "big five" state-owned commercial banks were 1.1 trillion yuan in the first quarter, down 1.88 percent from a year earlier, the CBRC said. The NPLs of those five accounted for 91 percent of the national total.

The NPL ratio of all commercial banks fell to a record low of 5.8 percent in the first quarter, down 0.38 percentage point from the end of 2007, the agency said.

The CBRC said total assets of the banking sector stood at 55.5 trillion yuan at the end of March, up 20.8 percent year-on-year.