ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Caixin

In depth: Major Evergrande creditor Minsheng faces wave of bad loans

Party committee chief's reforms fueled turbulence, caused exodus from bank

China Minsheng Banking Corp., 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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more