Jan 25, 2022 09:08 PM

In Depth: Major Evergrande Creditor Faces Wave of Bad Loans

China Minsheng Banking Corp. Ltd. (600016.SH), the country’s largest privately owned bank by assets, is likely going through its coldest winter ever.

The Shanghai- and Hong Kong-listed lender is a major casualty of China’s property downturn. Minsheng is one of the largest creditors of debt-ridden China Evergrande Group, and it also lent tens of billions of yuan to other risky developers, sources with knowledge of the issue told Caixin. Some industry insiders say the bank will likely struggle to collect these debts, some of which could soon turn irreparably sour.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
Caixin-Sinica Business Brief: Hong Kong to Allow Retail Investors to Trade Crypto