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Debts of city commercial banks up 362% in 7 years

(Xinhua)
Updated: 2007-04-13 20:04

The debts of China's more than 100 city commercial banks totaled 2,450 billion yuan by the end of 2006, up 362 percent over the last seven years.

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The bank's assets came to 2,570 billion yuan at the end of 2006, up 364 percent since 1999, according to the eighth national city bank development forum here Friday.

China's 114 city banks made a profit of 13.6 billion yuan in 2006 with average capital adequacy ratio of 8.48 percent and average non-performing loans ratio of 4.8 percent, sources with the forum said without giving further information.

The city banks have undergone reforms since China's entry intoWTO(find more in WTO package).

The Shenzhen Commercial Bank,ShanghaiCommercial Bank and three others have started financial derivatives business.BeijingCommercial Bank has been given the status of qualified domestic institutional investor.