Sep 23, 2021 04:44 PM (GMT+8) · EqualOcean
Financial Associated Press, September 23 - in response to investors' questions about the bank's loan and credit business with Evergrande group on the interactive platform, China CITIC Bank said: the bank continued to strengthen credit control in the real estate industry and has been actively taking various measures to reduce Evergrande's balance sheet and off balance sheet credit balance in recent years. By the end of August, the balance of Hengda's full-scale credit had decreased significantly compared with that in 2018. The bank paid close attention to the operation and capital status of Evergrande group, fully estimated and prepared for the possible risks of Evergrande, actively increased the provision for impairment and increased the risk resistance. At present, Evergrande has mortgages and pledges in the bank's loans, and the overall value of the mortgages is sufficient. According to the 2020 annual report of China Evergrande group, China CITIC Bank ranks the fourth from the bottom among the 20 major banks of the company.

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