S&P: US$400 Billion Needed To Recapitalize China's Banks Jun 01
Standard & Poors, June 2001
Abstract
HONG KONG (Standard & Poor's CreditWire) June 4, 2001--The Bank of China (BOC) (foreign currency; BB+/Stable/--) recently disclosed that its nonperforming loans (NPLs) were equivalent to 29% of its total loan book at Dec. 31, 2000, and 39% at Dec. 31, 1999, supporting Standard & Poor's opinion that at least 50% of total bank loans in mainland China are nonperforming. Included in this figure are NPLs held by government-owned asset management companies (AMCs). Standard & Poor's regards the asset quality of the BOC as superior to that of most of its peers, implying that many other Chinese banks have far higher NPL ratios. Moreover, while BOC and three other state-owned banks sold NPLs to AMCs at face value in 1999...
Companies mentioned in this report are:
- China (People's Republic of )
- Bank of China Ltd.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- China (People's Republic of )
- Bank of China Ltd.
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