Chinese banks to reach CNY8.5 trillion new loans target for FY12

But they have to lend out around CNY380-500b of new loans in each of the remaining 4 months.

Maybank Kim Eng analyst Ivan Li notes that according to PBOC, mainland banks lent out CNY704b of new loans in Aug12. This is much higher than the CNY540b in July12, and also higher than the consensus figures of CNY600b.

"For Jan-Aug12, mainland banks lent out and aggregate of CNY6.5t of new loans, versus only CNY5.4t in Jan-Aug11. The mainland banks should be able to meet CNY8-8.5t new loans target for FY12 without much difficulty. There should be not much risk for individual banks’ target loan growth. In order to meet the CNY8-8.5t new loans target, mainland banks have to lend out around CNY380-500b of new loans in each of the remaining 4 months."

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