The Industrial and Commercial Bank of China Limited (ICBC), a government-owned bank in China, reportedly has announced plans to increase its lending to micro- and small enterprises (MSEs) by CNY 240 billion (USD 38 billion) within three years. In 2011, ICBC loaned CNY 800 billion (USD 127 billion) to MSEs [1]. The new plan is expected to increase the bank’s loan balance to smaller businesses by three percentage points [1].
In 2010, ICBC reported total assets of USD 2.04 trillion and approximately 150 million customers. As of 2010, the 14 microfinance institutions (MFIs) in China that report to the US-based nonprofit Microfinance Information Exchange (MIX) have aggregate deposits of USD 17.5 million, a gross loan portfolio of USD 14.1 billion with 2.4 million active borrowers.
By Brendan Millan, Research Associate
About Industrial and Commercial Bank of China Limited (ICBC): Founded in 1984, ICBC is one of China’s “Big Four” state-owned commercial banks. In 2010, ICBC reported total assets of USD 2.04 trillion and approximately 150 million customers.
Sources and Resources:
[1] ChinaDaily: “ICBC to Increase Credit to SMEs” by Wei Tan. http://www.chinadaily.com.cn/china/2012-03/30/content_14955754.htm
MicroCapital.org Article, March 31, 2012, “Asian Development Bank (ADB) to Lend $20m to Chinese Banks to Support Microfinance Institutions in Rural China”, https://www.microcapital.org/microcapital-brief-asian-development-bank-adb-to-lend-20m-to-chinese-banks-to-support-microfinance-institutions-in-rural-china/
MicroCapital.org Article, February 22, 2012, “Number of Microfinance Institutions in ChinaHits 4,282”, https://www.microcapital.org/microcapital-brief-number-of-microfinance-institutions-in-china-hits-4282/
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