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29 Apr, 2021 Author Aries PoonRebecca Isjwara
A potential slowdown in loans and continued pressure on margins amid low interest rates may dampen earnings growth at major Chinese lenders in the coming quarters, after the four largest domestic banks posted low single-digit gains in net profit in the first three months of 2021.
But there is a silver lining: the so-called Big Four reported flat or lower nonperforming loan ratios compared with the previous quarter. Analysts say asset quality will likely improve further, albeit gradually, as the world s second-largest economy has so far remained ahead of its peers in emerging from the coronavirus pandemic and Beijing has extended payment holidays for struggling borrowers to the end of 2021.
Huarong Repays Offshore Bond With Help From State-Owned Bank
Bloomberg 4 hrs ago Bloomberg News
(Bloomberg) China Huarong Asset Management Co. repaid an offshore bond maturing Tuesday with funds provided by the nation’s largest state-owned bank, people familiar with the matter said, a sign that Chinese lenders are heeding government calls to support the embattled distressed-debt manager.
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Industrial & Commercial Bank of China Ltd.’s Singapore branch gave Huarong a loan to help the company repay its S$600 million ($452 million) bond due April 27, the people said, asking not to be identified discussing private information.
The support comes after China’s financial regulator asked banks to extend loans to Huarong by at least six months to help the company refinance debt, the people said. While news outlets including REDD have previously reported aspects of the China Banking and Insurance Regulatory Commission’s guidance, investors have
Mainland Mutual Funds Balance Value And Growth, Week In Review forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Private Equity Firm AIP Buys Up Debt on Guptaâs Aluminum Plants
Apr 21 2021, 11:41 AM
April 20 2021, 10:41 PM
April 21 2021, 11:41 AM
(Bloomberg) American Industrial Partners has bought most of the senior debt of two of Sanjeev Guptaâs European aluminum assets, putting it in position to take them over, people familiar with the matter said.
(Bloomberg) American Industrial Partners has bought most of the senior debt of two of Sanjeev Guptaâs European aluminum assets, putting it in position to take them over, people familiar with the matter said.
The New York-based private equity firm in recent days bought debt linked to Guptaâs Dunkirk smelter in France as well as refinancing the senior debt of the Duffel rolling mill in Belgium, said the people, who asked not to be identified as the deals werenât public.
Private Equity Firm AIP Buys Debt on Gupta’s Aluminum Plants
Bloomberg 1 hr ago Jack Farchy, Luca Casiraghi and Irene García Pérez
(Bloomberg) American Industrial Partners has bought most of the senior debt of two of Sanjeev Gupta’s European aluminum assets, putting it in position to take them over, people familiar with the matter said.
The New York-based private equity firm in recent days bought debt linked to Gupta’s Dunkirk smelter in France as well as refinancing the senior debt of the Duffel rolling mill in Belgium, said the people, who asked not to be identified as the deals weren’t public.