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StanChart troubled loans top $600mn on corporate woes

Bloomberg Problem loans at some of Standard Chartered Plc’s large clients may top $600 million as a string of corporate scandals coincides with woes at firms hit by the coronavirus pandemic. NMC Health Plc, the hospital operator that’s uncovered evidence of fraud, and Hin Leong Trading, the Singaporean trading house being investigated by police, represent nearly $500 million of lending ...

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Land Bank creditors provide loan default

Bloomberg Funders of South Africa’s largest agricultural bank are offering to help the state-owned lender recover from a loan default, but first need an indication from the government on how much support it is willing to give. The Land and Agricultural Development Bank, which provides about 30% of loans in the agricultural industry, failed to make repayments on a credit ...

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SBA sets cap on amount of relief loans banks can process

Bloomberg The US Small Business Administration (SBA) is capping the value of loans individual banks can arrange under a federal economic relief program for small businesses after a fresh infusion of funding. The move reflects concerns among advocates for small businesses that the biggest US banks, which are ready to flood the SBA with applications, could dominate the lending and ...

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