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News Link • China

Chinese banks step up lending in the US

•, By Kandy Wong
Chinese banks’ share of US syndicated lending has risen to 6.1 per cent of the total market so far in 2012, up from 5.1 per cent last year, according to data from Dealogic. So far this year, the total value of syndicated loans from Chinese banks into the US has reached $51bn.

Liao Qiang, Chinese banking analyst at Standard & Poor’s, said: “Many global banks have been deleveraging as a result of the 2008 global financial crisis and the debt crisis in Europe. Their retreat in lending markets provides opportunities for Chinese banks to deepen relationships with the multinational companies and steadily increase their international presence.”

The increased syndicated lending by Chinese banks comes as their balance sheets compare favourably with US counterparts.

Standard & Poor’s last year upgraded the long term credit ratings of Bank of China and China Construction Bank from A- to A. The credit rating agency maintained the rating of Industrial and Commercial Bank of China (ICBC) at A. At the same time, the long-term credit ratings of Bank of America, Citigroup and Goldman Sachs were cut to A-.

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