Three Major Reasons for the Difference in Growth of Deposits and Loans in May

Published: Jun 13, 2025 17:10

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[New RMB Deposits Exceed 2 Trillion Yuan in May, Divergence in Deposit and Loan Growth Attributed to Three Factors] The latest financial data released by the People's Bank of China on June 13 showed that new RMB loans reached nearly 620 billion yuan in May, while new RMB deposits approached 2.18 trillion yuan. Regarding the divergence in the monthly growth of deposits and loans, authoritative experts pointed out that this primarily reflects the diversification of financial institutions' assets and changes in the financing structure. Firstly, it is necessary to view deposit and loan growth from a longer-term perspective. Secondly, it is essential to consider both on-balance-sheet deposits and off-balance-sheet wealth management products. Thirdly, the asset channels that generate bank liabilities have also become more diversified.

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