Date
21 October 2017

Banks sell NPLs at steep discounts, paper says

Most banks are selling their non-performing loans (NPLs) to asset management companies at a discount, 21st Century Business Herald reported Friday, citing an official of Oriental AMC Corp. The loans were being offloaded at just 50 percent of their value in the third quarter, the report said. As of end-September, 16 listed banks had outstanding NPLs of 459 billion yuan (US$74.69 billion), up 57 billion yuan from the beginning of the year, with their NPL ratio at 0.95 percent, up 0.03 percent, the report said.

– Contact HKEJ at [email protected]

KZ/AC/RA

 

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