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China April new bank loans slow to 1.02 trln yuan, missing forecasts

BEIJING, May 9 (Reuters) - Chinese banks extended 1.02 trillion yuan ($150.16 billion) in net new yuan loans in April, less than analysts had expected and down from March.

Analysts polled by Reuters had predicted new yuan loans of 1.2 trillion yuan in April, down from a sharp 1.69 trillion yuan in the previous month.

Broad M2 money supply in April grew 8.5 percent from a year earlier, central bank data showed on Thursday, in line with estimates by analysts polled by Reuters, and slightly lower than an 8.6 percent rise in March.

Outstanding yuan loans grew 13.5 percent from a year earlier. Analysts had expected 13.6 percent, slightly lower than March's 13.7 percent. ($1 = 6.7929 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Writing by Yawen Chen; Editing by Kim Coghill)