There have been 442 Chinese language monetary establishments designated excessive danger as of end-2020, considerably down from 545 the earlier yr, the Individuals’s Financial institution of China mentioned on Friday.
Whereas that represented near 10% of the 4,399 monetary establishments, together with banks and monetary corporations, that had been coated in a central financial institution’s report, the PBOC mentioned in an announcement that the high-risk establishments accounted for simply 2% of nation’s banking property.
Though the general variety of excessive danger establishments declined considerably, rural banks and rural cooperatives remained at greater dangers than others, PBOC mentioned.
Geographically, the northern Liaoning, Gansu and Interior Mongolia areas comprise extra high-risk establishments than different provinces.
One unnamed monetary firm was given the bottom “D” score, that means it has been made bankrupt or been taken over by the regulators.
Supply: Reuters (Reporting by Cheng Leng, Zhang Yan and Ryan Woo; Modifying by Andrew Cawthorne & Simon Cameron-Moore)