The loan portfolios of the largest banks in China declined for the first time since 2009

Moscow. November 16. The volume of credit portfolios of the four largest Chinese banks (Bank of China, Agricultural Bank of China, China Construction Bank Corp. and Industrial & Commercial Bank of China) in October 2015 fell for the first time since 2009, which was another signal of weakness of the economy, reports Bloomberg.

The total amount of loans these banks at the end of October amounted to 35.7 trillion yuan ($5.6 trillion), decreasing for the month of 65.6 billion yuan, according to the people’s Bank of China (PBC, the Central Bank of the country).

Meanwhile, the volume of subprime loans at the end of September amounted to nearly 4 trillion yuan, non-performing loans accounted for 1,59 percent of total, or 1.2 trillion yuan.

The growth in profits of the largest banks in the PRC in January-September slowed to 2% compared to 13% for the same period last year.