GSB pledges help for indebted state officials

[webfact]

GSB pledges help for indebted state officials

By THE NATION

 

Deputy Prime Minister Somkid Jatusripitak, left

 

Deputy Prime Minister Somkid Jatusripitak asked the Government Savings Bank (GSB) on Wednesday (February 5) to help state official who are its customers in restructuring their debts.

 

He told the bank to devise an approach with the Bank of Thailand.

 

GSB president Chatchai Payuhanaveechai said it would complete a plan to that effect in about a month.

 

GSB has 1.18 million state officials among its customers with loans totalling a combined Bt629 billion, 2.65 per cent of which are considered non-performing loans.

 

Some 600,000 of those customers are civil servants and employees of state enterprises.

 

Chatchai said the bank would help only those who have good repayment records to restructure their debts, but these “disciplined customers” account for 90 per cent of the total.

 

The rest will have to improve their repayment records before receiving any assistance, he said.

 

Source: https://www.nationthailand.com/business/30381644

 

-- © Copyright The Nation Thailand 2020-02-06

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[RubbaJohnny]

3 hours ago, webfact said:

The rest will have to improve their repayment records before receiving any assistance, he said.

So non performing seals, get the chop?

[colinneil]

GSB to help indebted state officials !!! Why?

They got themselves in to debt by their own greed.

Just think all those officials heavily in debt, are the people making decisions that affect millions of other peoples lives, yet cannot manage their own finances...... Frightening.

[AussieBob18]

Portends, portends, everywhere I look I see portends.   Things are getting worse when the Dep PM has been requested to help his mates with their debt issues.    

[Assurancetourix]

3 hours ago, webfact said:

GSB has 1.18 million state officials among its customers with loans totalling a combined Bt629 billion, 2.65 per cent of which are considered non-performing loans.

 

Some 600,000 of those customers are civil servants and employees of state enterprises.

Who are the 580,000 " state officials who aren't civil servants and employees of state enterprises ? 

 

What I see:
bank branch managers have again failed in their work by lending to insolvent people.
Let them wonder ...

[YetAnother]

4 hours ago, webfact said:

help state official who are its customers in restructuring their debts.

so instead of calling it 'loan type a' at 10 per cent , we are calling it 'loan type b' at 10 per cent

[Redline]

Exactly why the here is no learning curve or discipline in Thailand 

[Prairieboy]

On 2/6/2020 at 4:02 AM, webfact said:

GSB has 1.18 million state officials among its customers with loans totalling a combined Bt629 billion,

That is an average of over 533 thousand per loan.  It takes a lot of money to maintain their elite status and life style - big house, fancy car, etc.

[Srikcir]

On 2/6/2020 at 4:02 AM, webfact said:

He told the [state-owned] bank to devise an approach with the Bank of Thailand.

More clear evidence that BOT economic policies are not independent of the government's economic policies. BOT Governor should tell GSB "don't call us, we'll call you."