In its annual report on the global state of non-performing loans, Ernst Young has found that since the crisis, more than $1 trillion of NPLs have been taken off the books of Asia's asset management companies and banks. However, another $1 trillion of loans are still not performing.
Asia's banks have made remarkable progress in disposing their bad loans, but they need to keep the momentum going - they cannot afford to become complacent, says Jack Rodman, an Ernst Young managing director based in Beijing. China and Japan together account for about 85% of Asia's NPLs, and they have strong reasons for resolving their NPL problems.
In China the...
