Chinese banks rush to disclose lending to Evergrande to soothe investor nerves

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Many Chinese banks are disclosing their lending to the embattled China Evergrande Group in a move to prove that they are able to cope with a potential default and soothe investor nerves.

One of Evergrande's biggest lenders, Zheshang Bank Co., said in a filing to the Shanghai Stock Exchange that it is owed 3.8 billion yuan ($588 million) by the homebuilder and has ``sufficient collateral.''

``The overall risk is controllable,'' said the bank, adding that a ``risk situation will not have a significant impact' on the bank's operation.

Industrial Bank . . .

 

 

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