Sabah Development Bank Berhad reports pre-tax loss of RM878mn in FY2023 due to NPLs and reduced asset values.

Sabah Development Bank Berhad (SDB) reported a pre-tax loss of RM878mn in FY2023 due to NPLs and reduced asset values. Despite this, the bank aims for a RM100mn pre-tax loss in FY2024, and expects to meet its RM1bn recovery target this year, with similar targets for the next two years. The Sabah state government remains committed to bond repayment obligations, and SDB is focusing on development projects in critical sectors under stringent guidelines.

August 22, 2024
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