BEIJING, Oct. 12 (Xinhua) -- The Agricultural Development Bank of China (ADB) provided accumulative loans of 1.1305 trillion yuan in the first three quarters of 2018 to support grain and cotton purchase, poverty alleviation and rural revitalization, said Sun Lansheng, vice president of ADB, at a press conference on Thursday.
The amount of loans lent by ADB for targeted poverty alleviation in the first three quarters outstripped other Chinese financial institutions.
By the end of September, ADB’s loan balance topped 5 trillion yuan, growing 7.61 percent from the beginning of the year. Its non-performing loan ratio stood at 0.83 percent at the end September, reflecting its asset quality is staying at a relatively good state compared to similar institutions, and its pre-provision profits were 48.2 billion yuan during the time period.
To prevent risks and improve development quality, Sun stressed ADB will accelerate establishment of a comprehensive risk management system, strengthen inner control and improve risk control capability.
(Edited by Yang Qi, kateqiyang@xinhua.org)
A single purchase
