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(From Thai Press Reports)
Section: Corporate News - TMB bank Plc says it plans to direct 50 billion baht worth of bad loans to a new asset management company in July.
At the same time, the bank says it expects to reach an operating profit this year, after recapitalisation procedures are completed and full coverage against bad loans are made.
Thanong Bidaya, president of TMB bank, said non-performing loans at the end of March stood at 82 billion baht, or about 29% of total outstanding loans.
By the end of the first half, the bank expected bad loans to fall to 26% of total loans, and to just 7% by the end of the year.
The bank …