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Bangkok Bank plans to reallocate funds.
Byline: Darana Chudasri
Oct. 4--Bangkok Bank is unlikely to reverse the provisions it had set aside against loans to Thai Petrochemical Industry.
Instead, the bank would maintain existing provisions set aside for TPI as part of its general capital reserves, according to chairman Chatri Sophonpanich.
He said the TPI restructuring would have no impact on Bangkok Bank's profits this year, as the bank had long since fully set aside provisions against its exposure to the country's largest corporate debtor.
Bangkok Bank is TPI's largest creditor, with outstanding loans of 27 billion baht. The creditors' steering committee formally approved ...
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Source: HighBeam Research, Bangkok Bank plans to reallocate funds.