Date
24 April 2018

ABC puts underperforming assets on the block, paper says

Agricultural Bank of China Ltd. (01288.HK, 601288.CN) has put nearly 17 billion yuan (US$2.795 billion) in poorly performing financial assets up for sale on the Beijing Financial Asset Exchange in a bid to offset risks, the China Securities Journal reported Monday. Of the 26 assets going under the hammer, 19 involve property and seven relate to debt. Commercial banks had 1.07 trillion yuan in underperforming assets in the first six months, up 19.16 percent year on year. Analysts and commercial bank sources said there is a greater sense of urgency this year for banks to manage these kinds of assets and loans, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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