Reuters: Financial Services and Real Estate: China banks' April loans slide 30 pct mth/mth -paper

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China banks' April loans slide 30 pct mth/mth -paper May 2nd 2012, 00:39 SHANGHAI | Tue May 1, 2012 8:39pm EDT SHANGHAI May 2 (Reuters) - Chinese bank lending is estimated to have dropped 30 percent in April from a month earlier as demand for credit declined, the official China Securities Journal reported on Wednesday. Managing bank lending is a key part of China's monetary policy and any signs of weaker bank lending are being closely watched as the sector faces pressure from a slowing economy and rising funding costs. About 700 billion yuan ($111 billion) in new yuan loans were extended in April, with China's four biggest state-owned banks lending less than 200 billion yuan, the newspaper said quoting unidentified market sources. The top four state-owned banks typically account for about 30 percent of Chinese new loans. Chinese banks lent 2.459 trillion yuan in the first quarter, ahead of a quarterly target for 2.4 trillion yuan, and above the 2.2 trillion yuan seen in the same period last year. Last month, China's top four banks reported weaker-than-expected first-quarter earnings. (Reporting by Lu Jianxin and Carrie Ho; Editing by Edwina Gibbs)

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