China’s biggest banks may fall short of loan targets for the first time in at least seven years as an economic slowdown crimps demand for credit, three bank officials with knowledge of the matter said.
A decline in lending in April and May means it’s likely the banks’ total new loans for 2012 will be about 7 trillion yuan ($1.1 trillion), less than an estimated government goal of 8 trillion yuan to 8.5 trillion yuan, said one of the officials, declining to be identified because the person isn’t authorized to speak publicly. Banks are relying on small and mid-sized companies for loan growth after demand from the biggest state- owned borrowers dropped, the people said.
A Gulf economy that is on the up and up
A strong set of fundamentals coupled to abundant resources, the Saudi economy is undergoing an upbeat phase. So states new findings from the International Monetary Fund in its recently-concluded Arti
Pakistan insurer to launch takaful products
Pakistan’s largest private insurance group will offer Shariah-compliant insurance products, or takaful, through its general and life units, adding further momentum to government efforts to expand the