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Thai Military Bank Sells Off Bad Loans, Assets.

Bangkok Post (Bangkok, Thailand)

| September 04, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Darana Chudasri

Sep. 4--Thai Military Bank yesterday sold off 41.4 billion baht worth of non-performing loans and another 6.8 billion baht in non-performing assets to Bangkok Asset Management.

BAM president Banyong Wisetmongkolchai said the purchase price of the assets was 25.99 billion baht.

Non-performing loans, which have a book value of 27 billion baht, were sold to BAM for 22 billion. Under a profit-sharing formula, profits gained on asset recovery will be split evenly between BAM and the bank.

If losses are incurred, the first 20 percent will be borne by TMB subsidiary Phayathai Asset Management, with the remaining losses ...

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Source: HighBeam Research, Thai Military Bank Sells Off Bad Loans, Assets.