Employees of China Merchants Bank at a booth at a financial exhibition in Guangzhou, Guangdong province. (LIU JIAO / FOR CHINA DAILY)

BEIJING - The non-performing loan ratio of China's commercial banks fell to 1.62 percent by the end of the first quarter (Q1) of this year, with the quality of these banks' credit assets generally stable, official data showed.

By the end of March, outstanding bad loans of these banks amounted to 3.1 trillion yuan (about $440.62 billion), up 134.1 billion yuan from the end of last year

The figure edged down 0.01 percentage points from the ratio seen at the end of 2022, according to the National Financial Regulatory Administration.

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By the end of March, outstanding bad loans of these banks amounted to 3.1 trillion yuan (about $440.62 billion), up 134.1 billion yuan from the end of last year.

Outstanding normal loans of the banks totaled 189.4 trillion yuan, the data revealed.