The four banks extended 110.5 billion yuan in new loans in the month, out of a total of 516.7 billion yuan.

By staff reporter Feng Zhe

(BOCVIP.COM) China's big four state-owned banks contributed just 21.4 percent of September's new yuan loans, down from 70 percent over the first six months, according to figures from the People's Bank of China website.

The quartet extended 110.5 billion yuan in new loans in the month, out of a total of 516.7 billion yuan.

A total of 75.6 percent of September loans, or 390.8 billion yuan, came from postal banks, agricultural credit cooperatives and policy banks, while 3 percent came from joint-stock banks.

The big four - Bank of China (SSE: 601988; HKSE: 0988), Industrial and Commercial Bank of China (SSE: 601398; HKSE: 0398), China Construction Bank (SSE: 601939; HKSE: 0939) and Agricultural Bank of China - contributed 40 percent of new yuan loans in August and 47 percent in July.

Chen Shanshan, an analyst at Bocom International Holdings, said large commercial banks scaled their lending after regulators tightened credit controls at the start of the third quarter.

Also, medium-sized banks saw their lending capabilities restrained by the tighter regulatory controls on capital requirements, he said.

"Banks are now actively selling loans," and mostly selling them packaged as syndicated loans, an executive with a large commercial bank told Caijing.

ICBC closed down 0.2 percent at 5.01 yuan on Oct. 15 in Shanghai and up 0.3 percent at HK$6.25 in Hong Kong.

Bank of China closed flat at 4.04 yuan in Shanghai and up 1.8 percent at HK$4.50 in Hong Kong.

China Construction Bank closed up 0.2 percent at 5.90 yuan in Shanghai and up 1.5 percent at HK$6.82 in Hong Kong.

1 yuan = 14 U.S.cents