3 billion of non-performing assets and other adversely classified assets
Our asset quality strategy combined a deep reduction in existing non-performing loans with a sharp attack on adversely classified assets
, from which future non-performers emerge," said Harshfield.
The examination found that adversely classified assets
had increased 424 percent since the prior examination to more than $3.
The Consent Order required the Bank to reduce total adversely classified assets
to a level at or below approximately $219.
As of December 31, 2012, total adversely classified assets
Other key aspects of the agreement provide for the Bank to: continue to retain qualified management; maintain an adequately funded allowance for loan and lease losses; develop written plans to reduce adversely classified assets
, reduce loan concentration risks, and increase traditional liquid assets; and, develop and implement a three year strategic plan.
The minimum standards for information categories, to be included in the examination report on special mention or adversely classified assets
, are discussed.
We were also able to reduce adversely classified assets
As of December 31, 2014, total adversely classified assets
At October 31, 2013, IFC had approximately USD79m in loan commitments and USD75m in loans outstanding with no delinquent loans or adversely classified assets
Nonetheless, the bank is currently reviewing proposals for the sale of portions of its performing but adversely classified assets
and its decision whether to proceed with such a transaction will be based upon its evaluation of the potential economic benefit to the bank.
At the end of first quarter, there were no non-accrual loans and the adversely classified assets
as a percentage of total assets continued to be low at 0.