Apr 08, 2014 04:41 PM

Banks Saw Value of Bad Loans Rise Last Year, Annual Reports Show

(Beijing) – Bad loans have sharply increased for many banks as more companies struggle to make repayments, data from recent bank annual reports show.

The total value of non-performing loans at 12 major banks was 467 billion yuan on December 31, an increase of 76.3 billion yuan, or 19.5 percent, from the beginning of 2013.

Earlier data from the regulator shows the entire banking industry's bad loans increased by 99.2 billion yuan last year to 592.1 billion yuan, with the average non-performing loan ratio reaching 1 percent, compared with the 0.95 percent a year earlier.

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