Over ฿289bn extended by Thai banks to clients hit by COVID-19 pandemic

[snoop1130]

 

Thai commercial banks have extended financial help, estimated at more than 289.3 billion baht, to their customers affected by the impacts of the COVID-19 pandemic over the past two years, according to Thai Bankers’ Association (TBA) Chairman Payong Srivanich today (Thursday).

 

The move comes amid massive amounts of household debt and a subsequent resulting sharp increase in Non-Performing Loans (NPLs).

 

The assistance has been in the forms of debt moratoria, debt refinancing and asset warehousing, among other measures. 124,250 entities have received help from the banks, including 39.5 billion baht in the form of asset warehousing for 285 businesses, he said, adding that several other indebted business operators have expressed interest in the asset warehousing program.

 

Full Story: https://www.thaipbsworld.com/over-289bn-extended-by-thai-banks-to-clients-hit-by-covid-19-pandemic/

 

-- © Copyright Thai PBS 2022-03-03

 

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[RichardColeman]

14 hours ago, snoop1130 said:

124,250 entities have received help from the banks,

Story seems to be missing the one important element of how many are still in operation and able to pay back the 290 billion baht or closed subsequently due to governmental covid mismanagement

[hotchilli]

And the Baht stays strong.

[Cake Monster]

15 hours ago, snoop1130 said:

The move comes amid massive amounts of household debt and a subsequent resulting sharp increase in Non-Performing Loans (NPLs).

It is not just the huge number of NPL now.

There are Debts called " special mention ", which are the Debts that are " Managed " to try and prevent more NPL.

I would suspect that this sector of Debt is for those that have a possible potential to repay IE. Large Business's Etc, but along with large Business, comes potential large Debt.

The Government keeps banging a Drum over the mount of Household Debt, but the Banks are still lending massive amounts of Money to people with little or no hope of repayment.

EG

!0 small 50 TW Houses thrown up in rapid order down the street from me over the last Year or so,

All now sold ! Why ? Very small deposit to move in, the same as it was to buy a new car 3 Years ago 

There is a Big Bang coming for sure, as the Household Debt has risen by 14 % of GDP over the last 2 Quarters of last year.

A totally unsustainable amount of Debt.