Bad Loan Book Sinks Tetrad

NEARLY the whole loan book of Tetrad Financial investment Bank compriseconsist of non-performing loans with the substantial section constituting unsecured advances to associated celebrations, according to findings by the banks provisional judicial manager.

Detailing factors for the banks failure in his initial report, PJM Mr Winsely Militala stated 99 percent of the loan book comprised of non-performing loans which 40 percent were in the kind of unsecured loans totalling $25,1 million.