BEIJING, Dec. 10 (Xinhua) -- The aggregate consortium loans provided by the Industrial and Commercial Bank of China (ICBC), China's biggest commercial lender, have surpassed 1 trillion yuan (about 142 billion U.S. dollars) by the end of November.
The figure represented a net increase of 120 billion yuan from the beginning of the year and a compound growth rate of over 10 percent over the past three years.
Compared to conventional loans extended by a single bank, consortium loans are often led by large banks and enjoy the advantages of dispersing loan risks, reducing peer competition and encouraging profit-sharing among lenders.
The ICBC said it has led consortium loan contracts worth more than 600 billion yuan to support major projects in the Beijing-Tianjin-Hebei region, the Yangtze River Delta and Guangdong-Hong Kong-Macao Greater Bay Area over the past two years.
(Photo: VCG)
