Chinese Auditors Find More Than 9.3 Bln Yuan of Suspect Loans at Three Banks – People’s Daily

From People’s Daily Online:

Chinese auditors have identified more than 9.3 billion yuan (1.2 billion U.S. dollars) of questionable loans in three top commercial banks, the National Audit Office (NAO) announced on Friday.

The three banks are the Bank of China (BOC) ,the nation’s second largest bank, the Bank of Communications , the fifth largest, and China Merchants Bank . Since 2002, the BOC has issued problem loans of 5.51 billion yuan, the Bank of Communications 1.94 billion yuan and China Merchants Bank 1.9 billion yuan. [Full Text]

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