Three of ten major banks in Shenzhen City, Guangdong Province, southeast China have lifted interest rate of loans for the first set of house, according to information the lenders issued on February 5, 2010.
The Shenzhen branches of Bank of China (SEHK: 3988; SHSE: 601988) and China Everbright Bank have lowered the interest rate of first-set house loan, equivalent to 30% discount of benchmark interest rate, to 15% and the Shenzhen branch of Shenzhen Development Bank (SZSE: 000001) cut the discount to 20%.
The Shenzhen branches of Industrial and Commercial Bank of China (SEHK: 1398; SHSE: 601398), China Construction Bank (SEHK: 0939, SHSE: 601939), Agricultural Bank of China, Bank of Communications (SEHK: 3328; SHSE: 601328) China Merchants Bank (SHSE: 600036, SEHK: 3968), Shanghai Pudong Development Bank Co., Ltd. (SHSE: 600000), and China Minsheng Banking Corporation Limited (SHSE: 600016) maintained the 30% discount, with the real estate loan business performing well presently.
Source: www.cnstock.com
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