Naysayers predict that change has amounted to nothing more than window-dressing. The argument runs that the banks, already saddled with huge legacy non-performing loans, add new NPLs to the pile each month secure in the knowledge that the government will turn up on time with another chunk of foreign exchange reserves to shore up their balance sheets. Foreign banks are merely pouring good money after bad, say these critics.
Singapore’s Oversea-Chinese Banking Corporation Limited (OCBC) is the latest foreign bank to pour its money into a Chinese bank, having in January announced a proposal to purchase a 12.2%
Thanks for your interest in Euromoney!
To unlock this article:
