Property News · June 24, 2021

China Evergrande’s creditor Minsheng Bank pares loans to developer amid concerns about leverage, default


China Evergrande’s top bank creditor has reduced its exposure to the nation’s most-indebted developer to assuage its own investors, a sign that local lenders have started to raise their guard against the risk of defaults.China Minsheng Banking Group, a major commercial lender, said its loan exposure to Evergrande has been lowered since September last year following a scrutiny of lending to the developer, it said on the Shanghai Stock Exchange’s investor interaction platform late on Wednesday. …

Source : South China Morning Post
Read more…China Evergrande’s creditor Minsheng Bank pares loans to developer amid concerns about leverage, default