vice president of china citic bank: confident that the quality of real estate assets will gradually stabilize
2024-08-29
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on august 29, hu gang, vice president and risk director of citic bank, talked about the characteristics of the bank's real estate loans at the bank's 2024 semi-annual performance conference and said that the bank's corporate real estate loans are, firstly, not large in scale, accounting for only 9.5%, a decrease from the beginning of the year; secondly, the quality is improving, with the current non-performing rate of 2.3%, which is continuing to improve.
"it should be said that the country's policy support for real estate is increasing, so we are confident that the asset quality of real estate will gradually stabilize," said hu gang.
the semi-annual report shows that as of the end of june, the balance of corporate real estate financing that bears credit risk, such as real estate-related loans, bank acceptance bills, letters of guarantee, bond investments, and non-standard investments of citic bank, was 363.162 billion yuan, an increase of 17.924 billion yuan from the end of the previous year, of which the balance of corporate real estate loans was 277.547 billion yuan, an increase of 18.184 billion yuan from the end of the previous year, accounting for 9.51% of the company's loans, a decrease of 0.11 percentage points from the end of the previous year. the balance of corporate real estate financing that does not bear credit risk, such as agency sales and financial management funds, was 50.805 billion yuan, an increase of 1.399 billion yuan from the end of the previous year. in addition, the balance of bond underwriting was 32.614 billion yuan, a decrease of 7.133 billion yuan from the end of the previous year.
regarding the risks of local government financing platforms, hu gang said that the bank's local government implicit debt loans are not large in scale and the proportion is declining. at the same time, the asset quality is relatively good, with the non-performing loan ratio being only 0.02%. at the same time, the debt reduction effect is obvious.
he said that from october last year to the first half of this year, citic bank has replaced 17.7 billion yuan of hidden debts through special bonds, solved 5.8 billion yuan of high-risk hidden debts, and returned 1.8 billion yuan in profits. it should be said that the effect of debt reduction is still very obvious.
the semi-annual report shows that as of the end of june, the balance of local government implicit debt loans of citic bank was 197.465 billion yuan, down 12.406 billion yuan from the end of the previous year. the credit structure is good. in terms of regions, economically developed regions such as east china, south china, and central china account for about 68%. in terms of levels, prefecture-level cities and above account for 56%, and nearly 82% of district and county levels are concentrated in east china. the asset quality is controllable, with non-performing loans of 41 million yuan and a non-performing loan ratio of 0.02%, which is far lower than the average level of corporate loans of the whole bank.
the paper reporter chen yueshi
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