The Import and Export Bank of China (Eximbank), a major policy bank, recorded a non-performing loan ratio of 2.84 percent at the end of June, down from 3.47 percent at the end of last year, a bank source said on Wednesday.

By the end of June, the bank had extended 92.7 billion yuan (US$ 12.3 billion) in loans and supported exports of machinery and electrical products, overseas engineering projects and offshore investment projects, which were valued at US$ 30.1 billion, as well as imports of resources and equipment, which were valued at US$ 10.3 billion.

Eximbank President Li Ruogu said in the second half of this year, the bank will continue to focus on improving loan structure.

Founded in 1994, Eximbank recorded 231.7 billion yuan in loans outstanding at the end of last year and 88.5 million yuan in net profits last year.

(Xinhua News Agency July 26 2007)