The banking sector maintained stable growth last year with total assets reaching 168.2 trillion yuan in 2014, up by 13.6 percent year-on-year. [Photo provided to China Daily]

The risk in China's banking sector is "well under control" with the rate of non-performing loans by financial institutions standing at 1.64 percent last year, the China Banking Regulatory Commission said on Friday.

The regulator said the banking sector maintained stable growth last year with total assets reaching 168.2 trillion yuan in 2014, up by 13.6 percent year-on-year.

Outstanding loans by Chinese banks stood at 86.8 trillion yuan last year, up by 9.6 percent year-on-year while commercial banks' capital adequacy ratio rose to 12.93 percent, according to a press statement from the regulator.