ABC boosts SME financing

By end of 2010, ABC's SME customers reached 63,485 and small-sized enterprises were 39,965, with an increase of 2,076 and 2,338 respectively compared with the beginning of 2010.

SME loan balance increased by 22.3 per cent to over US$289.5 billion, and that of small-sized enterprises increased by 22.38 per cent to US$70 billion.

In 2010 Agricultural Bank of China`s SME business maintained a sound, rapid and sustainable growth, with loan quality continuously improving and decrease of both NPL balance and NPL ratio. ABC is planning to become a domestically largest and uniquely advantageous bank in term of SME loans by 2017, with its core performance indices and risk control ability catching up with its advanced international counterparts.

ABC launched two featured competitive products, namely, Simple and Quick Loan and Smart Loan. Simple and Quick Loan adopts the flexible mode of credit granting and rating, and realizes the integration of credit rating, credit granting and credit using, in order to simplify business process and significantly improve the reviewing and approval efficiency. At the fourth China SME Festival, ABC

won the Best SME Service Institution and ABC's Simple and Quick loan for small-sized enterprises was awarded "Best SME Service Product".

In 2011, ABC Ningbo Branch will work with the local government to raise funds by issuing collection notes, which will be used for the development of local hi-tech SMEs.