Residual Debt Services narrows full-year loss
The ‘bad bank’ portion of African Bank intends t o make a fifth payment of up to R550m to senior stub holders by January 2020
22 November 2019 - 14:08
Residual Debt Services (RDS) — the “bad bank” portion of African Bank — reported a R68m operating loss for its year to end-September on Friday, an improvement of almost a third on the prior comparable period.
The company is planning to pay a further R500m to R550m to senior stub holders at the end of 2020, which would bring the total payments to these holders to as much as R2.95bn...
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