What is the actual loan amount from China Minsheng Bank to Anbang Insurance?

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China Minsheng Bank's Loans to Anbang Insurance Group Amount to US$100 Million

China Minsheng Bank's loans to Anbang Insurance Group have been confirmed to be US$100 million (RM428 million), significantly lower than the rumoured 100 billion yuan (US$15 billion, RM63 billion). Bank chairman Hong Qi disclosed this figure to shareholders, asserting that these loans are secure. A Minsheng spokesman, Li Liming, corroborated the accuracy of the shareholders' meeting account.
Confirmation of Loan Figures

The precise amount of loans extended by China Minsheng Bank to Anbang Insurance Group was clarified by bank chairman Hong Qi during a shareholders' meeting. He explicitly stated that the total sum is US$100 million, which is equivalent to RM428 million. This figure directly counters earlier rumours that had suggested a much larger loan amount of 100 billion yuan, or approximately US$15 billion (RM63 billion).
Security and Shareholder Status

Hong Qi further assured shareholders that the loans extended to Anbang are secure. This assurance comes in the context of Anbang Group being identified as one of Minsheng Banking's largest private shareholders. The bank chairman highlighted that Anbang's significant shareholding necessitates stricter controls and transparent disclosure of related party transactions, underscoring the bank's adherence to regulatory practices.
Continued Product Sales

Despite the scrutiny surrounding Anbang, China Minsheng Bank intends to continue selling Anbang's insurance products. This decision was also communicated by Hong Qi, as reported by Caixin. This contrasts with actions taken by employees at several other Chinese banks, who had reportedly ceased selling certain Anbang products, in some instances several months prior, as banks serve as the primary distribution channel for Anbang's offerings.

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What is the actual loan amount from China Minsheng Bank to Anbang Insurance?

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