BEIJING : Chinese banks extended 718.8 billion yuan in new yuan loans in April, tumbling from March and sharply missing analysts' estimates.
Analysts polled by Reuters had forecast new yuan loans would drop to 1.4 trillion yuan last month, versus 3.89 trillion yuan in March. Broad M2 money supply grew 12.4 per cent in April from a year earlier, central bank data showed on Thursday, falling short of the Reuters poll estimate of 12.5 per cent. M2 rose 12.7 per cent in March.
Outstanding yuan loans grew 11.8 per cent in April from a year earlier compared with 11.8 per cent growth the previous month. Analysts had predicted 12 per cent growth.
Source: Loan News Today (loannewstoday.net)
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