GOLDMAN SACHS TO DIP TOE IN CHINA'S NPA DISPOSAL
AsiaInfo Services, June, 2003
AsiaInfo Services 06-10-2003 Goldman Sachs to Dip Toe in China's NPA Disposal CHINA, Jun 10, 2003 (SinoCast via COMTEX) -- Board chairperson and CEO of Goldman Sachs announced on June 4 that Goldman Sachs would cooperate with Industrial and Commercial Bank of China (ICBC) in non-performing loan (NPL) tackling, said China Economic Times.
The two partners have signed related memo. In terms of the memo, the two partners will set up a joint venture to dispose of ICBC's collateral assets worth RMB 8 to 10 billion. It will be the first joint venture of China's state bank and international investment bank engaging in non-performing asset tackling. In addition, Goldman Sachs will introduce the experience and approaches in asset management to ICBC. The four biggest...
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