Bank of Shanghai to increase loans to SMEs by 67% in 2008

Bank of Shanghai expects to expand its loans to small and medium-sized enterprises (SMEs) 67% year-on-year in 2008, said He Qing, assistant of the lender's president.

He disclosed that the bank will grant no less than 30% of the new-added full-year loans to SMEs. "We will gear up to expand the lending to SMEs amid the central government's tightening credit measures."

The medium-sized city commercial bank broke the ground yesterday of its data processing center in Pudong New Area, which is scheduled to start operations in the second half of 2010, in a bid to enhance its information technology capability.