KOTA KINABALU: Wholly state-owned is confident in recovering its RM5bil in Non-Performing Loans (NPLs) within the next three years.
Since the new Board and Management took charge in mid-2023, the bank has implemented aggressive legal actions, including the appointment of Receivers and Managers, targeting both borrowers and guarantors.
SDB then said in a statement on Wednesday (Oct 2) that it formed a dedicated recovery team, leading to swift legal action on all NPLs.
This firm approach has led to positive results, with several borrowers coming forward to offer settlements.
To date, settlement proposals worth RM879mil have been approved, with more expected by the end of 2024, pushing the total settlements beyond RM1bil.
SDB remains optimistic about maintaining this momentum, stressing that the RM5bil in NPLs are backed by tangible assets.
With its firm stance, SDB is poised to meet its target, signalling an effective push towards financial recovery without compromise.
