Chinese regional lender Shengjing Bank said on Wednesday it has agreed to sell a portfolio of assets, including certain loans and investments, among others, for 176 billion yuan to Liaoning Asset Management.
The bank, based in the northeastern Chinese city of Shenyang, expects an unaudited provision for impairment of about 7.7 billion yuan, it said, adding that the deal will improve its asset quality and lower non-performing loan ratio.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shengjing Bank to sell $24 billion worth assets to local government-backed entityChina's Shengjing Bank said on Wednesday it has agreed to sell a portfolio of assets, including certain loans and investments, among others, for 176 billion yuan ($24.07 billion) to Liaoning Asset Management.Liaoning Asset will fund the purchase of assets by issuing special-purpose notes to the bank, the
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Money laundering: Scammers set up companies and bank accounts in S’pore remotely during Covid-19Scammers were able to set up firms in Singapore and move their ill-gotten gains to bank accounts here by exploiting relaxed rules, which allowed the registration processes to be conducted remotely during the Covid-19 pandemic. In total, they moved US$3.4 million (S$4.65...
Source: thenewpaper - 🏆 7. / 63 Read more »
Money laundering: Scammers set up companies and bank accounts in S’pore remotely during Covid-19A nominee director who helped them set up companies here was fined $9,000. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
China's central bank to keep policy 'precise and forceful' to support recoveryBEIJING : China's central bank said on Wednesday it would implement monetary policy in a 'precise and forceful' manner to support economic recovery.The People's Bank of China will step up macro policy adjustments, the bank said in a statement after a quarterly meeting of its monetary policy committee.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan's MUFG Bank, two others lead US$290 million Sierra Space fundraising: ReportTOKYO: MUFG Bank is among three Japanese firms leading a US$290-million fundraising round for US spaceship company Sierra Space, spearheading a commercial 'spaceport' project in the southwestern region of Oita, the Nikkei daily said on Tuesday (Sep 26). Despite recent setbacks for national space missions,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »