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Bank of Thailand Reports Decline in Non-Performing Loans.
Byline: Parista Yuthamanop
Aug. 4--Non-performing loans in the financial system fell to 13.13 percent of total loans, or 607.9 billion baht, at the end of June, compared with 17.88 percent of total loans the month before, the Bank of Thailand said yesterday.
The sharp drop was largely attributed to asset transfers of 209.5 billion baht by Siam City Bank and Bangkok Metropolitan Bank to management companies.
Pranee Leelavechasit, director of special projects and analysis at the central bank, said outstanding bad loans at private banks stood at 470.5 billion baht, or 17.78 percent of total loans, at the end of June, a decline of 24.6 billion baht from the month before.
Ms Pranee said debt restructuring of 46.1 billion baht was booked in June, with another 20.4 billion in write-offs.
If Bangkok International Banking Facilities and credit foncier companies were included, bad loans outstanding at the end of June would stand at 613.27 billion baht or 13.02 percent of the total loans.
Financial institutions have set aside provisions for unsecured NPLs worth 202.5 billion baht, exceeding the central bank's rules, Ms Pranee said.
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