SARB Recoups 3.3 Billion Rand Loan Made to Failed Abil Unit

  • Residual Debt Services repaid money after collecting on loans
  • Any money collected will now go into an indemnity fund

Residual Debt Services Ltd., which took on the non-performing loans of African Bank Investments Ltd.’s lending unit after it failed, said it paid 3.3 billion rand ($231 million) to the South African Reserve Bank to settle credit that was first extended in 2014.

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