Clarification of real estate stop lending doubts about ABC's emergency loan structure

After the IPO, AgBank's first Zhang Zhong report was quite eye-catching.　　ABC announced the first half of the performance on August 27 evening, the first half of agricultural bank to achieve net profit of 45.863 billion yuan, has completed full-year profit target of 83 billion of 55.3%, net profit growth of 40.2% year-on-year, the highest growth rate of state-owned banks. In response to the recent market in the Agricultural bank to stop the issue of real estate loans, Agricultural Bank of China in the report specifically clarified that AgBank is not to stop the issue of real estate loans, but only from August 24 to August 31, suspend the issuance of real estate legal person loans a week, but there is a need to be issued by the　　The purpose of this is to further clean up the relevant situation of real estate loans, 停缓 real estate lending rhythm, promote a balanced delivery, lest the end of too fast growth. Mr Cheung, the bank's president, said the arrangement was not a requirement of the regulator, but a temporary measure taken by AgBank based on the needs of its business management, and that the loans would return to normal since September 1.　　"Real estate growth is clearly announced earlier, the three major lines of net profit growth rate of 27.3%, 25.77%, 26.75%, 30.67%, the above four state-owned bank net profit is 84.965 billion yuan, 54.375 billion yuan, 70.779 billion yuan, 20.357 billion yuan." Against the backdrop of a pick-up in banking net spreads, the rapid growth of AgBank's performance is mainly due to the expansion of interest-bearing assets.　　By the end of June, AgBank's total assets were close to 9.7 trillion and the loan balance was 4.62 trillion, up 11.7% from the end of last year, at the top of the four lines. But in the first half of the year, AgBank invested more in the real estate sector. According to the statistical analysis of industrial securities, as at the end of June, the bank's real estate loan balance of 536.4 billion yuan, the new 109.1 billion yuan, the proportion of total loans increased to 15.5%, mortgage loans of 641.6 billion yuan, compared to the beginning of the increase of 143.7 billion yuan.　　The securities firm believes that AgBank's mortgage and real estate loans account for 25.5% of total loans and shares, which is at a high level in listed banks, and the credit risk of ABC is still the most uncertain factor of performance. "Personally, the real estate industry in the long run is still good, the recent state issued a series of real estate macro-control policies, the purpose is to protect the healthy and stable development of the industry to prevent fluctuations in real estate prices."　　"August 30, ABC chairman Junbo said at the 2010 Interim results Conference.　　Total, structure reasonable report at the end of the year, the bank's non-performing rate was 2.32%, down 0.59% from the beginning, but still at a higher level of listed banks. Mr Cheung said that the total amount and structure of AgBank's real estate loans were reasonable.　　Mr Cheung put forward four basis: compared with the total industry, the loan quality is good, the loan structure is optimized, and the market risk is small. By the end of June, the bank's real estate development loans and personal mortgage loans amounted to 1.18 trillion yuan, the minimum amount of loans in the four major lines, accounting for the levelRanked third.　　By the end of June, AgBank's real estate non-performing loan balance was 15.2 billion yuan, down 5 billion yuan from the end of last year, and the bad rate was 1.29%, down 0.89%. Mr Cheung disclosed that the first half of the bank's loan structure in the low risk category accounted for 65%, while 70% of the real estate loans in developed areas, 95% of the loan to the AA-level quality customers.　　At the same time, AgBank's personal mortgage loans accounted for up to 81% of the mortgage, and the value ratio of mortgages and houses was 50%.　　Mr Cheung that, although the first half of the Agricultural Bank's real estate loan increase is relatively large, but the loan is strictly in accordance with the State Council and regulatory authorities issued the request, "policy and market risk is small."　　County dominance show Mr Cheung said, and China's accelerated urbanization process, the Agricultural bank to the real estate development of the county issued loans 74.9 billion yuan, accounting for the increase of 29% of the total loans, reflects the Agricultural Bank differentiated competition strategy.　　County finance is the most characteristic business of ABC, and also an important field of future occupation. In the first half of this year, the Agricultural bank in the county area of deposit and loan spreads of 4.26%, compared with the full line of 3.88% higher 0.38%.　　Last year, the county's deposit and loan spreads 4.05%, compared with the entire line of 3.76 higher 0.29%.　　Zhu Hongbo, vice president of Agricultural Bank, said that the county-level deposit and loan spreads widened by 9 points, reflecting the growing dominance of the county area. Zhu Hongbo that the issue could be seen from two perspectives: first, the average yield on AgBank's county-level loans in the first half of the year was 5.47%, compared with 0.31% of the 5.16% per cent of the total, from loan yields. "Visible county-level business pricing advantage is outstanding." "Second, the interest rate of county deposits is low, the average interest rate of county deposits in the first half is 1.21%, which is 0.07% lower than that of the whole bank." "Reflects the county-level business has a good capital cost advantage." ”