Harbin Bank Clarifies Payment Terms for RMB342 Million Distressed Loan Transfer

Harbin Bank Co., Ltd. Class H ( (HK:6138) ) has provided an announcement.

Harbin Bank has issued a supplemental announcement detailing the payment structure for the transfer of a specified loan to China Cinda Asset Management’s Tianjin branch, clarifying how consideration will be settled over time. The purchaser has already paid a down payment of about RMB102.6 million toward an agreed transfer price of roughly RMB342.0 million, with the remaining initial transfer price of about RMB131.1 million to be paid within a 36‑month term subject to possible extension, and an additional shortfall of about RMB108.3 million payable depending on recoveries from the underlying loan. The bank will receive 85% of any recoveries above the initial transfer price until the shortfall is fully paid and 80% thereafter, although it considers the likelihood of collecting more than the agreed transfer price to be remote, signalling a cautious outlook on the loan’s recoverability while improving transparency for shareholders on the expected cash inflows and risk-sharing with the asset management company.

The most recent analyst rating on (HK:6138) stock is a Hold with a HK$0.37 price target. To see the full list of analyst forecasts on Harbin Bank Co., Ltd. Class H stock, see the HK:6138 Stock Forecast page.

More about Harbin Bank Co., Ltd. Class H

Harbin Bank Co., Ltd. is a PRC-incorporated joint stock commercial bank whose H shares are listed in Hong Kong, serving mainland Chinese clients while not being an authorised institution under Hong Kong’s Banking Ordinance and therefore not supervised by the Hong Kong Monetary Authority nor permitted to conduct banking or deposit-taking business in Hong Kong.

Average Trading Volume: 1,410,778

Technical Sentiment Signal: Buy

Current Market Cap: HK$4.18B

For detailed information about 6138 stock, go to TipRanks’ Stock Analysis page.