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Some Major HK Banks Discussing Establishment of Bad Bank: Wire
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Some of Hong Kong's large banks are in preliminary discussions to set up a bad bank amid a rise in non-performing loans among Hong Kong banks, Bloomberg quoted sources as saying. A number of banks, including HANG SENG BANK (00011.HK) and BANKCOMM (03328.HK), have recently approached consulting firms, and are in preliminary discussions to set up a specialized organization to deal with bad debt issues, with one of the considerations being to follow China's lead and set up a non-performing asset management company to allow banks to recover at least some of their loans. However, it is not yet known whether this plan is supported by other local banks and regulators. AAStocks Financial News Website: www.aastocks.com |
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