World’s Worst-Performing Bank Lent Billions to China Evergrande
- Minsheng shares have led losses in Bloomberg World Banks Index
- Bank is among the largest creditors to China Evergrande
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It was once hailed as the future of Chinese banking, a privately run lender that would mint money by outmaneuvering its state-owned rivals.
An ill-fated push into property lending has instead turned China Minsheng Banking Corp. into one of the biggest casualties of the real estate debt crisis that’s roiling Asia’s largest economy.