Kabul Bank commits to collect loans: Bank chief

The governor of Afghanistan's central bank says the embattled Kabul Bank is committed to collecting $540 million worth of loans it made, seeking to calm fresh concerns about the stability of the country's largest lender. Central bank chief Abdul Qadir Fitrat told reporters Monday auditors are so far able to account for all but $100 million of the amount lent.
He denied a report in The New York Times suggesting the lender was facing losses of as much as $900 million. He says Kabul Bank has nearly $300 million in cash reserves. Afghanistan's central bank took control of Kabul Bank in mid-September after the removal of two top executives sparked a run on the lender. It is combing Kabul Bank's books to sort good loans and assets from the bad.