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HSBC HOLDINGS Reportedly Urges HANG SENG BANK to Sell HK Property Non-performing Loan Portfolio
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HSBC HOLDINGS (00005.HK) has recently taken the unusual step of directly intervening in the handling of bad debts at its subsidiary, HANG SENG BANK (00011.HK), Bloomberg quoted insiders as saying. Over the past 2 months, HSBC HOLDINGS dispatched its global chief corporate credit officer and the head of its special credit unit from its London headquarters to urge HANG SENG BANK to initiate the sale of its non-performing loan portfolio related to Hong Kong real estate, which is expected to involve more than US$3 billion. As of the end of June 2025, HANG SENG BANK's non-performing loans in Hong Kong commercial real estate amounted to approx. $25 billion, representing a significant increase of 85% from the same period last year, the report added. Fitch Ratings, based on data from the Hong Kong Monetary Authority, estimated that the total amount of non-performing loans in the Hong Kong banking industry reached approx. US$25 billion. AASTOCKS Financial News Website: www.aastocks.com |
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