Bank of Communications Co., China’s fourth-largest publicly traded lender, said it made fewer mortgage loans in February and March as the government seeks to rein in lending and curb property speculation. “We have had an obvious drop in volume over the last two months,” Dicky Yip, an executive vice-president at BoCom, as the bank is also known, said in an interview in Shanghai yesterday. He declined to give loan-volume figures. China’s bank regulator has told the nation’s larger banks to conduct quarterly stress tests on property loans and ensure risks are strictly controlled. Chinese banks extended a less- than-estimated 510.7bn yuan ($74.8bn) of new loans in March after the central bank told lenders to set aside larger reserves and pace credit growth.
Bank of Communications says Chinese mortgage volume fell
Most Popular Articles
Latest Articles
CHLA president addresses various consumer protection measures
A late-breaking CFPB announcement quickly expanded the scope of a session with CHLA’s Taylor Stork at The Gathering.
-
Best real estate apps for agents in 2024
-
Former Keller Williams agents continue their legal actions
-
NAF’s Gatling: Recognize that diverse communities are the norm
-
Buyers are struggling to compete in the white-hot Cincinnati market
-
HUD details funding, policy support for green homes and climate resilience