The calls for expression of interest are directed at commercial banks as well as non-banking asset management corporations
like the state-owned Kedipes.
'We met about 13 potential investors, a combination of banks and asset management corporations
. Basically, they are very enthusiastic about the growth narrative of the Philippines.
The four asset management corporations created by the Chinese government to handle non-performing loans piled up by China's big four commercial banks have cleared up 124.5 billion yuan ($15 billion) of the soured debts last year, Xinhua news agency said Wednesday.
30 last year, after transferring the rights to the 1,393.9 billion yuan of bad loans to the four asset management corporations.
If Asian governments, asset management corporations and banks succeed in moving nearly $1.5 trillion of nonperforming loans off their books and into the private sector over the next few years, Asia will emerge as the world's growth engine, fueled by e-commerce and foreign investment.
The region's asset management corporations, China's MBS program, Japan's J-REITs, Korea's KAMCO and other programs have done much to help banks move nonperforming loans off their books, clean up their balance sheets, attract foreign investment and develop real estate capital and securitization markets in Asia.