Are the loans from Minsheng Bank to Anbang considered secure?

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Loans to Anbang Insurance Group are considered secure by China Minsheng Banking

China Minsheng Banking's chairman, Hong Qi, has stated that the loans extended to Anbang Insurance Group are secure. This clarification addresses rumours circulating about the extent of Minsheng's financial exposure to Anbang. The bank maintains that its lending practices are robust, particularly given Anbang's significant shareholder status.
Loan Amount Clarified

Hong Qi informed shareholders that the total value of loans provided by China Minsheng Banking to Anbang Insurance Group amounts to US$100 million. This figure is substantially lower than earlier speculative reports, which had suggested a figure of 100 billion yuan, equivalent to approximately US$15 billion. The clarification was reported by Caixin, a respected Chinese business magazine.
Stricter Controls Due to Shareholder Status

The bank chairman emphasized that due to Anbang Insurance Group being one of Minsheng Banking's largest private shareholders, the bank implements stricter controls and adheres to rigorous disclosure protocols for related-party transactions. This statement suggests a heightened level of oversight on financial dealings with major stakeholders like Anbang.
Continued Business Relationship

Despite the scrutiny and rumours surrounding Anbang, China Minsheng Banking intends to continue distributing Anbang's insurance products. This decision comes at a time when some other financial institutions had reportedly ceased selling Anbang's offerings, highlighting Minsheng's distinct approach to its business relationship with the insurer. Banks typically serve as a primary distribution channel for Anbang's insurance products.

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Are the loans from Minsheng Bank to Anbang considered secure?

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