“Across the whole population, in terms of granting new loans, the credit criteria has been tightened, making sure that we lend to people who will pay us back,” he told CNBC Africa.
“The volumes went down initially in August and September, as one would probably expect. We’ve launched a new campaign in terms of our branch staff out there, they are very committed. The volumes are now starting to pick up [but] they’re still not at the levels we want them to be.”
[DATA ABL:ABIL] recently indicated that it would have 26 billion rand worth of its core lending assets transferred to a “good bank” in the first quarter of 2015.
This was after it announced the departure of former chief executive and managing director, Leon Kirkinis and subsequent full year losses, which then promoted the South African Reserve Bank to intervene.
(READ MORE: SARB to introduce support measures for ABIL)
The curatorship was intended to provide the legal framework within which the necessary initiatives to enable resolution could take place.
Winterboer emphasised the fact that ABIL needs to do more good business and added that the process has been initiated in terms of the future bank.
“We’ve submitted a new banking application for a new license for the good bank, that’s for the South African Reserve Bank to consider. What we’ve got on there is a business plan to demonstrate that there is a sustainable bank going forward,” he said.
“A new board then needs to be appointed – we’ve got a short list of names and we hope to have a board in place by the end of next month, hopefully earlier than that. That board then needs to appoint a CEO. So a lot of progress but some things we’ve had to change in terms of the initial deal envisaged.”