Banks' outstanding syndicated loans up 12.4%
0 
The Chinese Loan Syndications and Trading Association (LSTA) said Sunday its 49 members had 2.08 trillion yuan (306.3 billion U.S. dollars) in syndicated loans outstanding at the end of June, up 12.4 percent from the end of 2009.
China Development Bank (CDB), Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB), together with other seven banks, held 87.67 percent of the outstanding syndicated loans, according to the LSTA, which is a part of the China Banking Association.
The LSTA also said CCB, Bank of Communications and Shanghai Pudong Development Bank, along with seven other banks, had seen more than 30-percent growth in syndicated lending.
City commercial banks and joint-stock commercial banks have enhanced their syndicated loans business, according to the LSTA.
A syndicated loan is a loan from a group of lenders (called a syndicate) to a borrower. The loan's default risk is spread among the members of the syndicate.
