BEIJING, March 10 (Reuters) - Chinese banks extended 1.81
trillion yuan ($260 billion) in new yuan loans in February, down
from January's record but exceeding analysts' expectations.
Analysts polled by Reuters had predicted new yuan loans
would fall to 1.50 trillion yuan in February from 4.9 trillion
yuan the previous month, and against 1.23 trillion yuan a year
earlier.
A pull-back in February from January had been widely
expected, because Chinese banks tend to front-load loans at the
beginning of the year to get higher-quality customers and win
market share.
Other credit gauges showed solid improvement.
Broad M2 money supply grew 12.9% from a year earlier,
central bank data showed on Friday, above estimates of 12.5%
forecast in the Reuters poll. M2 grew 12.6% in January from a
year ago.
Outstanding yuan loans grew 11.6% in February from a year
earlier compared with 11.3% growth in January. Analysts had
expected 11.4% growth.
($1 = 6.9616 Chinese yuan renminbi)
(Reporting by Judy Hua and Kevin Yao; Editing by Kim Coghill)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.