Chinese banks prepare for additional bond losses

09/10/2013 | Bloomberg

Banks in China are suffering losses in the bond market partly because of a record 1.07 trillion yuan in debt set to come due in 2014. Bad debt is expected to increase, Standard & Poor's says. "The very aggressive asset growth is a key risk for Chinese banks," said Liao Qiang of S&P. "Credit losses for Chinese banks will go up substantially in the next two years."

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