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Bank of Thailand's Profit Gain Helps Financial Development Fund.
Byline: Wichit Chantanusornsiri
Jun. 12--Higher than expected profits generated by the Bank of Thailand have led authorities to project that total losses for the Financial Institutions Development Fund from the 1997-98 crisis will be repaid at least five years ahead of schedule.
Pannee Sathavarodom, the director-general of the Public Debt Management Office, said losses for the Financial Institutions Development Fund was projected at 1.4 trillion baht.
The sum includes losses incurred from the 56 failed finance companies and struggling banks, distressed assets taken over from ailing institutions and interest costs.
In 1998, the ...
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Source: HighBeam Research, Bank of Thailand's Profit Gain Helps Financial Development Fund.