‘SDBank recorded RM5bil in losses’

Important updates: Masidi speaking at the 16th Sabah state assembly session in Kota Kinabalu. — Bernama

KOTA KINABALU: State-owned Sabah Development Bank (SDBank) recorded losses of over RM5bil in non-performing loans (NPLs) that were hidden through decades of creative accounting, says state Finance Minister Datuk Seri Masidi Manjun.

He said the RM5bil in NPLs reflected 75% of the total of RM6.6bil in loans released by the bank as of May this year.