Evergrande-backed Shengjing Bank halts share trading, cites proposed transaction

Shengjing Bank Co

20/06/2019 04:58

BEIJING, June 20 (Reuters) - Chinese regional lender
Shengjing Bank Co Ltd  2066.HK  halted trading in its Hong
Kong-listed shares on Thursday, citing a proposed transaction.
    Moves of regional banks like Shengjing have been closely
scrutinised by investors and markets after Chinese regulators
seized Baoshang Bank last month, citing  "severe credit risks".
 urn:newsml:reuters.com:*:nL4N2302JN
    Shengjing, which announced the trading halt in a stock
exchange filing, did not elaborate on the transaction or
disclose when its shares will resume trading. 
    The bank, based in China's northeastern Liaoning province
and controlled by property conglomerate Evergrande Group
 3333.HK , recorded a non-performing loan ratio of 1.71% at
end-2018, rising from 1.49% from a year ago, according to its
annual report. 
    Its 2018 net profit fell by more than one-third to 5.13
billion yuan ($745.77 million). 
($1 = 6.8788 Chinese yuan renminbi)

 (Reporting by Cheng Leng and Ryan Woo; Editing by Muralikumar
Anantharaman)
 ((cheng.leng@thomsonreuters.com; +8610-5669-2129;))