Market Chatter: Slow Real Estate Recovery Bears Down on Banks' Mortgage Arrears in H1

MT Newswires Live09-04

The slow recovery of China's real estate market bore down on banks' mortgage arrears in the first half, YiCai Global reported Monday.

Forty-two of China's publicly traded banks saw their outstanding individual mortgages fall 319.1 billion yuan in the January-to-June period, according to the report. China-listed banks' outstanding individual mortgages totaled 34 trillion yuan as of June 30.

The outstanding individual mortgage scale of Chinese banks first shrank in 2023 and was more than 500 billion yuan lower from 2022, YiCai Global wrote.

Among China's six largest banks, China Construction Bank (HKG:0939, SHA:601939) had the largest outstanding individual mortgages at 6.31 trillion as of June 30, according to the report. This was followed by Industrial and Commercial Bank of China (HKG:1398, SHA:601398) with 6.17 trillion yuan.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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