Agricultural Bank of China sees outstanding inclusive loan increase-Xinhua

Agricultural Bank of China sees outstanding inclusive loan increase

Source: Xinhua

Editor: huaxia

2023-11-18 18:26:00

BEIJING, Nov. 18 (Xinhua) -- Agricultural Bank of China, one of the country's four big state-owned lenders, saw its balance of inclusive loans reach 3.55 trillion yuan (about 495 billion U.S. dollars) by the end of September, the bank has said.

The figure marked an increase of nearly 1 trillion yuan from the beginning of this year, according to the bank.

The lender had provided inclusive loans for more than 3 million micro and small businesses by end-September.

Moreover, nearly 300 branches dedicated to financial services for micro and small enterprises have been set up, covering a range of sectors including science and technology, green development, supply chains and manufacturing.

The bank said it has also given full play to the role of fintech in restructuring its inclusive finance business models and facilitating the digital and intelligent transformation of relevant credit services for small firms.