ADF restructures 1,183 NPLs worth SAR 604M in 2023

12/04/2024 Argaam

ADF restructures 1,183 NPLs worth SAR 604M in 2023

Logo of Agricultural Development Fund (ADF)

The Agricultural Development Fund (ADF) restructured 1,183 non-performing loans (NPLs) worth SAR 604 million for investors and farmers in 2023.

 

According to its annual report, the fund stated that it collected loans worth SAR 3.44 billion during the fiscal year 2023. The total installments paid to the fund amounted to nearly SAR 39.3 billion, representing 94.66% of the total installments due, reaching around SAR 41.5 billion since the fund's establishment.

 

ADF is keen to cooperate and coordinate with government agencies in settling the loan installments owed by customers to such agencies, according to the report.

 

The fund is also keen to overcome the repayment difficulties facing farmers or investors by rescheduling their loans.

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