Bank of China expects restructuring to be completed in H2

HONG KONG (AFX-ASIA) - Bank of China governor Liu Mingkang said restructuring of the bank's Hong Kong operations is expected to be completed in the second half of this year, the Hong Kong Economic Times reported. Liu was quoted as saying the bank has secured Goldman Sachs, UBS Warburg and Bank of China International as financial advisers for the restructuring. Meanwhile, Liu said the bank has reduced its non-performing loan ratio to 9 pct from the previous 15-16 pct. He said he does not rule out the possibility of setting up an independent company run by the bank's Hong Kong operations to deal with problem loans

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