By Shi Bu and Kevin Yao
BEIJING, April 9 (Reuters) – Chinese banks likely extended significantly more new loans in March than in February, according to a Reuters poll on Thursday, driven by improved credit demand and a seasonal rebound.
Banks in China are expected to have issued around 3.4 trillion yuan ($497.61 billion) in net new yuan loans last month, up sharply from the 900 billion yuan in February, based on the average estimate of 17 economists polled by Reuters.
March is typically a strong month for lending, as activity recovers after the Chinese New Year lull and banks accelerate loan issuance to meet first-quarter targets.
($1 = 6.8327 Chinese yuan renminbi)
(Reporting by Shi Bu, Kevin Yao; Polling by Renusri K and Rahul Trivedi in Bengaluru and Jing Wang in Shanghai; Editing by Eileen Soreng)
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