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KTB sells B15.6bn in bad loans.

Bangkok Post (Bangkok, Thailand)

| July 01, 2005 | COPYRIGHT 2005 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

Jul. 1--Krung Thai Bank has sold 15.59 billion baht worth of non-performing loans (NPLs) to the Asset Management Corporation (AMC) at an average price of 41 percent of the book value.

President Apisak Tantiworawong said the bank had made full provisions for bad debts for the NPLs, adding that it was the first time KTB had invited purchasers to quote prices and selected those who offered the best figures.

"The sold accounts were loans with complicated repayment problems. Some had been restructured for several years but debtors were still unable to comply with the terms and conditions in the debt restructing agreement," he said.

The sale would ...

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Source: HighBeam Research, KTB sells B15.6bn in bad loans.

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