By the end of 2023, the balance of inclusive small and micro enterprise loans will exceed 29 trillion yuan

By the end of 2023, the balance of inclusive small and micro enterprise loans will exceed 29 trillion yuan

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In recent years, banking financial institutions have continued to deepen financial services to small and micro enterprises, agricultural-related business entities and key assistance groups, and increased credit extension. The latest data released by the State Administration of Financial Supervision shows that as of the end of 2023, the balance of inclusive small and micro enterprise loans was 29.06 trillion yuan, a year-on-year increase of 23.27%, which is 13.13 percentage points higher than the growth rate of various loans. The balance of inclusive agriculture-related loans was 12.59 trillion yuan, a year-on-year increase of 20.34%, which was 10.2 percentage points higher than the growth rate of various loans. The balance of various loans in 832 poverty-stricken counties was 12.3 trillion yuan, a year-on-year increase of 14.7%; the balance of various loans in 160 national key rural revitalization counties was 1.9 trillion yuan, a year-on-year increase of 15.85%.

Annual reports disclosed one after another show that in 2023, listed banks will continue to optimize inclusive financial products and services and allocate more resources to key areas of inclusive finance.

Major state-owned banks are the main force and leader in inclusive financial services in my country. ICBC is guided by customer needs and continues to improve the coverage, availability and satisfaction of inclusive financial services to help alleviate the financing problems of small and micro customers. At the end of 2023, inclusive small and micro enterprise loans were 2.227752 billion yuan, an increase of 677.436 billion yuan or 43.7% from the beginning of the year; inclusive small and micro enterprise loan customers were 1.467 million, an increase of 451,000; new inclusive small and micro enterprise loans were issued throughout the year. The average interest rate for micro-enterprise loans is 3.55%, effectively reducing financing costs. In terms of product system, ICBC has established a digital inclusive center to improve the digital inclusive development model; it has created a new generation of business quick loans with open applications and flexible withdrawals, significantly improving its inclusive financial service capabilities and coverage; and optimizing “Online Loans” In the processing process, we will promote direct connection with the mortgage registration system to improve processing efficiency, innovatively launch scenarios such as “personal e-enterprise quick loans”, and expand credit support for individual industrial and commercial households; focus on key areas of the supply chain and create customized financing solutions to help stabilize the chain. Solid and strong links; under the standardized product system, we will accurately focus on the characteristics of regions and customer groups, increase branch innovation in characteristic scenarios, and improve the pertinence and adaptability of services for small and micro customer groups.

Agricultural Bank of China aims to enhance the ability of financial services to serve the real economy as its starting point and comprehensively improve the supply, coverage and sustainability of inclusive financial services. As of the end of 2023, the balance of inclusive small and micro enterprise loans was 2,458.322 billion yuan, an increase of 689.328 billion yuan from the end of the previous year, a growth rate of 39.0%, which was 24.6 percentage points higher than the bank’s loan growth rate; the number of loan customers was 3.538 million, an increase of 39.0% from the previous year. An additional 1.009 million households were added by the end of the year; the annual interest rate of newly issued inclusive loans in 2023 was 3.67%, a decrease of 23 basis points from the previous year. At the same time, high-quality inclusive financial services were used to assist rural revitalization. The balance of loans in the inclusive financial field, including farmers’ production and operation loans, reached 3,515.641 billion yuan. The Agricultural Bank of China recently announced that its loan balance in the inclusive finance field has exceeded 4 trillion yuan, and the number of inclusive small and micro loan customers has exceeded 4 million. After exceeding 2 trillion yuan in December 2021 and 3 trillion yuan in March 2023, the development of inclusive finance of Agricultural Bank of China has reached a new level.

Joint-stock banks have also actively implemented the work arrangements of regulatory authorities and made great contributions to inclusive finance. For example, China Merchants Bank disclosed in its 2023 annual report that as of the end of the reporting period, the company’s inclusive small and micro enterprise loan balance was 804.279 billion yuan, an increase of 125.930 billion yuan from the end of the previous year, an increase of 18.56%, which was 10.77 percentage points higher than the company’s overall loan growth rate; The number of inclusive small and micro enterprises with loan balances was 1,004,500, an increase of 13,800 from the end of the previous year. During the reporting period, the company issued new inclusive loans to small and micro enterprises worth RMB 602.821 billion, with an average interest rate of 4.48%, a year-on-year decrease of 67 basis points. In terms of supply chain and scenario finance, China Merchants Bank has innovatively upgraded its supply chain finance 3.0 service system, launched new products such as Zhaolian Yidai and Distribution Yidai, further improved the supply chain product system, and effectively improved product operation efficiency and customer experience. In 2023, the company’s supply chain financing business volume was 818.733 billion yuan, an increase of 23.68% from the end of the previous year; it served 6,556 core enterprises and 39,490 upstream and downstream customers.

The reporter learned that the overall goal of inclusive credit in the new year has been clarified. The State Administration of Financial Supervision recently issued the “Notice on Doing a Good Job in Inclusive Credit in 2024.” The notice clarified the overall goals of inclusive credit in 2024, namely ensuring quantity, stabilizing prices, and optimizing structures. Guaranteeing quantity means maintaining inclusive credit support and proposing loan growth targets for small and micro enterprises, agriculture-related entities, and poverty alleviation areas in different fields. Price stabilization means stabilizing the price of credit services, guiding banks to strengthen loan pricing management, reasonably determining interest rates for inclusive small and micro enterprise loans and agriculture-related loans, and promoting a steady but moderate decrease in comprehensive financing costs. Optimal structure, that is, optimizing the credit structure. Strengthen the legal person service capabilities for small and micro enterprises, increase first-time loans and renewal loans, actively develop small credit loan products, and promote the revolving loan model of borrowing and repaying at any time; highlighting the support for technological innovation, specialization, specialization, and green development of small and micro enterprises For low-carbon development, we will strengthen the credit supply guarantee for small and micro enterprises in the upstream and downstream of key industrial and supply chains, foreign trade, consumption and other fields, and increase credit investment in key food fields, people who have been lifted out of poverty and other groups.

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