GBRW was retained by the Agency for Deposit Insurance, Rehabilitation, Bankruptcy and Liquidation of Banks (the “BRA”), under a World Bank contract, to assist the BRA implement its restructuring plans.
The main objective was the centralization of asset administration for the receiverships of 6 State Banks to achieve the following tasks: 1) sales of the banks’ “exotics” portfolios and a number of the minority and majority equity investments; and 2) the establishment of a centralised Bank Consolidation Unit (BCU) to support the administration of impaired Non Performing Loan (NPL) assets.
More specifically, GBRW completed a loan stratification and review of the loan portfolios of the liquidated banks; identified target sectors and loans where recovery is most likely and effort should be concentrated; and provided detailed Policies and Procedures on loan collections. Finally, GBRW assisted in the preparation for and sale of all eligible banks’ non-impaired loan and equity assets.
- Completed a loan stratification and review of the loan portfolio of the liquidated banks;
- Identified target sectors and loans where recovery is most likely and effort should be concentrated;
- Provided detailed Policies and Procedures on loan collections;
- Submitted proposals for staffing a BCU and prepared detailed individual organisation charts;
- Analysed the third country distressed debt portfolio and identified a number of potential buyers;
- Provided Unofficial Appraisals on 20 investments, including the major investments controlled by the BRA;
- Assisted the BRA in initiating and pushing forward the sale process for these investments; and
- Provided initial formal training to bank loan officers as a basis for them to train the rest of their teams.