The Agricultural Bank of China says its level of real estate loans are the lowest among its peers, and its yearly profits could exceed forecasts.
AgBank chairman Xiang Junbo, says risks from loans to real estate developers and mortgagees are manageable. AgBank also clarified that the bank had not stopped real estate lending but noted that such loans were being halted for a week from August 24th. The move is aimed at avoiding what is considered excessive growth towards the end of the month. Such lending will return to normal from next month.
- ABC halts loans to property developers 2010-08-26