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HK Banks Reportedly Boost Hiring to Pare back Up to HKD200B in Bad Debts
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Special assets bankers in Hong Kong are paring back up to HKD200 billion in bad debts, which have pushed the city's non-performing loan (NPL) ratio to a 20-year high, according to a Bloomberg report. These bankers are increasingly resorting to last measures, forcing borrowers to sell collateral or undergo liquidation, sources divulged. These loans are typically linked to losses in Hong Kong's commercial real estate sector. As the local economy rebounds, banks hope to cut bad debts in order to free up capital for new lending, sources divulged. At least six banks in Hong Kong have increased headcount for special assets bankers. Among them, BANK OF E ASIA (00023.HK) and the Hong Kong branch of United Overseas Bank have nearly doubled such staffing since 2024, while BOC HONG KONG (02388.HK) and Hang Seng Bank have also expanded related teams. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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