Bank QNB Indonesia (BKSW) has, on Nov. 27, 2020, sold its non-performing loan (NPL) and low-quality credit worth Rp693.26 billion (US$49.2 million), representing 14.78% of its equity per Dec. 31, 2019, to BDFK Limited based on the Cayman Islands. This is an affiliated transaction, and BDFK Limited’s debt instrument is guaranteed by QNB (QPSC), the controlling shareholder of BKSW (92.48% ownership). QNB (QPSC) is the largest bank in the Middle East and North Africa.

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