HF targets to recover Sh10 billion legacy bad debt
Nairobi, May 24 -- HF Group is targeting to recover Sh10 billion non-performing loans (NPLs) and raise fresh capital to meet the minimum level required to comply with the Central Bank of Kenya (CBK).
The lender discloses in its latest annual report that it wants to step up the recovery of the legacy NPLs over a five-year period through auctions and private treaties as it continues to resolve challenges such as litigations that have been standing in the way.
"There is a lot of progress in the resolution of matters under litigation, completion of stalled projects, aggressive sale of the completed office space/residential property, negotiated settlements, and realisation of collateral either via private treaty or auction," says HF.
"The t...
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