China'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 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.
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