ICBC’s Yang Says Lending ‘Normal’ After Report of March Decline

Industrial & Commercial Bank of China Ltd. President Yang Kaisheng said lending at the world’s largest bank by market value was “normal” in early March, after a newspaper said new loans at the nation’s four biggest lenders fell during the period.

ICBC, China Construction Bank Corp., Agricultural Bank of China Ltd. and Bank of China Ltd. lent a total of 550 billion yuan ($87 billion) from Jan. 1 through March 4, Shanghai Securities News reported, citing an unidentified person. The banks’ new loans were 320 billion yuan in January and 260 billion yuan in February, suggesting that new credit fell by about 30 billion yuan in the first four days of this month, the person said, according to the newspaper.