Sources say that, according to reports by “Fosse McKenzie Financial”, China’s major banks are offering aid by improving repayment terms on credit cards for people affected by the nation's most powerful earthquake since 1950.
A spokesperson for Fosse McKenzie Financial reportedly noted that the Agricultural Bank of China will offer preferential loan rates for those affected by the disaster and extend repayment terms for mortgages by three to six quarters. The Fosse McKenzie Financial spokesperson apparently added that the Industrial & Commercial Bank of China Ltd., Bank of China Ltd. and Bank of Communications Ltd. had promised to ease loan terms and change repayment dates without charge.
Sources close to Fosse McKenzie Financial say that China Construction Bank Corp. Chief Risk Officer Zhu Xiaohuang stated that the aftermath of the quake requires creative and flexible banking arrangements.
