Most Chinese listed banks have already exceeded their yearly credit quota plans, even it is still just half way into 2009, China Securities Journal reported.

By the end of May, the credit extended by nine major commercial banks reached 3.65 trillion Yuan, 1.3 times the planned amount for the full year, which was 2.76 trillion Yuan.

As credit expands, the performance of these banks will be guaranteed, according to an unnamed source from the industry. He also said that the credit quantity of commercial banks will increase significantly in June compared to May due to market conditions.

Lu Xiaojiu, an analyst at the Bank of Communications International Trust Co., LTD, said the scale of commercial banks credit will play an important role in this year's profits.

If credit increases to 6.5 trillion, the profit of these listed banks will grow 12.3 percent. If credit increases to 7 trillion yuan this increase will be 15 percent. There could even be a 20 percent rise if the figure rises to 8 trillion yuan.

The nine banks include the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of Communications, the Bank of China, and five other small and middle-sized joint-equity commercial banks.