Bank of China’s credit asset quality manageable

Controllable situation: A Bank of China branch in Sydney, Australia. The bank’s credit risk management overseas and the asset quality of its overseas institutions will also bear pressure due to uncertainties in the global economy. — Xinhua

BEIJING: Bank of China Ltd, a large state-owned commercial lender, estimates that its overall credit asset quality will remain controllable this year, as China has become the first major economy to recover from the Covid-19 pandemic.

However, the asset quality of its domestic institutions will still remain under pressure, considering that China may tighten monetary policies amid the economic recovery and exit from policies supporting small businesses after the policies expire, and the impact of the pandemic could be delayed, said Chen Huaiyu, vice-president at Bank of China.