Industrial and Commercial Bank of China (HKG:1398) subsidiary ICBC (Asia) plans to increase its home mortgages in Hong Kong in a bid to prop up the city's housing sector, the South China Morning Post reported Monday.
Despite sluggish sales and non-performing loans, the industry is looking to stabilize and strengthen itself with the help of government and developer-driven initiatives, the report said, citing ICBC Asia Corporate Banking Head Wang Zhiyong.
Developers such as debt-laden New World Development (HKG:0017) are sailing through the challenges "relatively well," the report said, citing Wang.
"The loan quality is stable, and our willingness to lend is more about stabilizing the existing quota," the SCMP quoted Wang as saying.
Wang's remarks came before a media report saying mainland Chinese regulators asked China's four biggest banks ICBC, China Construction Bank (HKG:0939, SHA:601939), Agricultural Bank of China (HKG:1288, SHA:601288), and Bank of China (HKG:3988, SHA:601988) to maintain their credit lines for New World Development, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。