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Bank of China sees 2010 lending growth slowing from 09

Fri Oct 30, 2009 4:24am EDT

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BEIJING, Oct 30 (Reuters) - Bank of China (601988.SS) (3988.HK), the country's biggest foreign exchange lender, said on Friday that lending would remain at a reasonable level in 2010, after a lending boom this year under economic stimulus measures.

But the rate of lending growth next year would slow from this year's level, Li Lihui, the bank's president, said at an analyst briefing.

Infrastructure projects that the bank lent to this year would continue need financing down the road, he added.

The Beijing-based lender on Thursday posted a 19 percent rise in third-quarter profit, in line with market expectations, boosted by a lending boom in the first half of the year. [ID:nHKG6957]

The bank joins rivals including Industrial & Commercial Bank of China (ICBC) (1398.HK)(601398.SS) and Bank of Communications (3328.HK)(601328.SS) in reporting a slowdown in loan growth in the third quarter, while net interest margins stabilise. (Reporting by Michael Wei and Clare Jim; Editing by Chris Lewis)



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