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Thailand: Credit card issuers warn of rise in NPLs.
(From Thai Press Reports)
Section: General News - Trade association warns that higher monthly payments will hit cardholders, The Nation reports.
The Credit Card Club has warned that bad credit-card debts are set to rise, because the Bank of Thailand (BOT) will not extend the period during which companies can collect minimum monthly instalments of 5 per cent of a credit-card balance.
The minimum payment was earlier reduced from 10 per cent and is scheduled to return to that level next April.
The club recently urged the central bank to extend the period for the 5-per-cent rate, in order to help cardholders during the current economic …
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