Asia's $640 billion bad-loan pile lures global investors, says Deloitte

A growing pile of bad debt in Asia is luring more global investors.

That’s the view of consulting firm Deloitte LLP, which estimates that nonperforming loans held by banks across Asia jumped 23% to $640 billion, amid a slowdown in the global economy and simmering US-China trade tensions.

China continues to dominate the region’s soured loans, with a total of $295 billion held by Asian banks, while India is the second largest at about $160 billion, according to Deloitte in a report. China’s nonperforming debt has lured global funds from Oaktree Capital Group LLC to Bain Capital Credit, while India