Agricultural Bank of China reports record growth in loans to SMEs

Big Four bank said loans hit US$96 billion in 2012.

Agricultural Bank of China, Ltd said this total was a record high, and represents a 25% growth over 2011. The growth rate was also higher than the bank’s average loan growth rate.

ABC's personal business loans exceeded US$96 billion, up US$8 billion over the previous year. The growth rate was 24%. The bank said hundreds of thousands individual business and small and micro-enterprises benefited from these loans.

ABC has actively expanded its financing channels for SMEs by leveraging its advantages in comprehensive financial services. It has also issued “set bills” that allow SMEs to do this.

Last year, ABC was awarded the "Advanced Financial Institution of Providing Financial Service for Small and Micro Business" by the China Banking Regulatory Commission. It also received the "Excellent Institution in Serving Medium-sized and Small Business for 2012" from the China Association of Small and Medium Enterprises.