BEIJING, April 13 (Reuters) - Chinese banks extended 1.12 trillion yuan ($178.21 billion) in net new yuan loans in March, just under analysts’ expectations.
Analysts polled by Reuters had predicted new yuan loans would rebound to 1.2 trillion yuan in March, from February’s weaker-than-expected 839.3 billion yuan.
Broad M2 money supply grew 8.2 percent in March from a year earlier, central bank data showed on Friday, missing forecasts for an expansion of 8.9 percent and compared with 8.8 percent in February.
Outstanding yuan loans grew 12.8 percent from a year earlier, slower than an expected 12.9 percent rise and compared with a rise of 12.8 percent in February.
China’s banks extended a record 13.53 trillion yuan in new loans last year, up 7 percent from 2016, despite a government drive to reduce risks in the financial system from a rapid build-up in debt.
China has said it expected reasonable growth in broad M2 money supply and total social financing this year. ($1 = 6.2847 Chinese yuan) (Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)