Banking
Minsheng rules out loan cuts for developers
By Wang Bo and Hu Yuanyuan (chinadaily.com.cn)
Updated: 2010-03-04 15:03
 |
Large Medium Small |
China's Minsheng Bank has no fundraising plans at present and will not cut loans for property developers this year, its chairman Dong Wenbiao told reporters on Thursday.
The medium-sized Chinese bank is aiming for lending growth of 23 percent this year and deposit growth of 30 percent, Dong said while attending the annual session of the CPPCC.
| ||||
He says he believes the bubble in China's real estate market is not as serious as holding property prices in second- and third-tier cities at a healthy level.
"In fact, even though the property price dropped 50 percent, our non-performing loans ratio will not soar, thanks to our risk management scheme," said Dong.
