China Bohai Bank plans to sell $4bn non-performing loans due to China's faltering economy.
China Bohai Bank, held by 16.2% Standard Chartered stake, plans to sell $4bn (29bn yuan) non-performing loans due to China's faltering economy. The bank aims to receive at least 17.7bn yuan from six potential buyers, expecting a financial hit of 3.9bn yuan. This move comes as China's banks face struggles with rising bad debt amid a real estate market slump and an economy trying to regain momentum.
July 22, 2024
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