Taiwan’s Chung Shing close to sale
(Taiwan) - The Taiwanese Government is pressing ahead with the sale of troubled Chung Shing Bank, and may compete a deal by the end of September.
Vice Finance Minister Susan Chang has confirmed that the Government's Financial Restructuring Fund is in negotiations with China Trust Financial Holding Co on a possible deal.
Chung Shing Bank has a network of more than 20 business outlets. The bank is saddled with non-performing loans totalling more than NT$88.6 billion (US$2.5 billion).
Chung Shing Bank has a network of more than 20 business outlets. The bank is saddled with non-performing loans totalling more than NT$88.6 billion (US$2.5 billion).
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