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Money

ICBC to offer loans to US real-estate owners

(Agencies)
Updated: 2010-06-30 15:09

Large Medium Small

Industrial and Commercial Bank of China (ICBC), China's biggest bank, will offer loans of $100 million or more to US real-estate owners, the Wall Street Journal reported.

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While most US banks avoid such loans at present, ICBC, which is 70 percent owned by the Chinese government, reckons US real-estate values have fallen far enough for the risk to be acceptable, the newspaper said.

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