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Thai Banks to Fare Much Better over Next Three Years, Official Says.
Byline: Parista Yuthamanop
Oct. 2--The stability of the banking system will improve continuously during the next three years due to the central bank's cautious approach to provisioning requirements and a new state initiative to buy non-performing assets from local institutions, according to M.R. Pridiyathorn Devakula, governor of the Bank of Thailand.
A framework to address non-performing assets (NPAs) is now being drafted to allow entities such as state-owned asset management companies to bid for assets.
Overall, state agencies were expected to purchase around 420 billion baht worth of the 700 billion in foreclosed NPAs held by local banks ...
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