The Industrial and Commercial Bank of China (ICBC), the country's largest commercial lender, said it provided 55.01 billion yuan ($8.05 billion) from January to April in trade finance for small and medium-sized enterprises (SMEs) in China.
By the end of April, the balance value of the bank's trade finance for SMEs totaled 77.43 billion yuan ($11.3 billion), up 34.35 percent from the start of this year.
Commercial banks usually consider small businesses larger risks. The poorly developed credit guarantee system makes it even more difficult for them to access financing.
"These loans have effectively soothed funding shortages of the small companies and added fuel to trade between them," ICBC said.
In addition, the bank has kept a vigilant eye on risks. Its bad loan ratio of such services stood at a minimum 0.14 percent, much lower than the industrial average.
ICBC is currently the world's largest lender by market value. Its net profit in the first quarter rose 18.2 percent year on year to about 41.73 billion yuan ($6.1 billion). |