Boe Limited - Quarterly Update On Properties In Po
Performing Loans In NBS Division
Boe Limited
Share code: BOE
ISIN code: ZAE000014890
In line with the renewed focus on managing down the properties in possession
(PiPs) arising from the NBS division, BoE indicated to shareholders that it
would provide a quarterly update in this regard. BoE is pleased to announce
a further R90 million net reduction in PiPs in this division for the three
months to 31 December 2001, and no further deterioration in non-performing
loans in NBS. This positive trend has continued since 31 December.
PROPERTIES IN POSSESSION
R'm December September 2001
2001
NBS - Residential 425 481
properties
Unsold 249 293
Sold awaiting 176 188
transfer
NBS - Residential 93 133
developments
Unsold 69 82
Sold awaiting 24 51
transfer
NBS - Commercial 222 212
properties
Unsold 140 165
Sold awaiting 82 47
transfer
NBS - Servcon book 154 158
Total 894 984
Comprises:
Unsold 612 698
Sold awaiting 282 286
transfer
GROSS NON-PERFORMING LOANS
R'm December September
2001 2001
NBS - Residential 172 172
properties
NBS - Residential 151 147
developments
NBS - Commercial 231 237
properties
NBS - Servcon book 14 15
Total 568 571
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