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Harbin Bank Co., Ltd. Class H ( (HK:6138) ) just unveiled an announcement.
Harbin Bank Co., Ltd., a PRC-incorporated joint stock commercial bank listed in Hong Kong, primarily engages in banking and credit-related services, including corporate lending and loan management. The bank has agreed to transfer a loan portfolio with a book balance of approximately RMB573.9 million in principal, interest and related rights to China Cinda Asset Management Co., Ltd. Tianjin Branch for an agreed transfer price of about RMB342.0 million, with an initial payment of roughly RMB233.7 million and a contingent balance dependent on loan recovery. Structured as a discloseable transaction under Hong Kong Listing Rules, the deal is intended to optimize Harbin Bank’s asset structure by offloading the subject loan while the bank continues to assist in recovering the assets under an entrusted disposal arrangement, reflecting ongoing efforts to manage credit risk and clean up its balance sheet in cooperation with an asset management company.
More about Harbin Bank Co., Ltd. Class H
Harbin Bank Co., Ltd. is a joint stock commercial bank incorporated in the People’s Republic of China and listed in Hong Kong, operating in the banking and financial services industry with a focus on lending and related credit services.
YTD Price Performance: 5.97%
Average Trading Volume: 1,666,953
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$3.9B
Learn more about 6138 stock on TipRanks’ Stock Analysis page.