Thai Bankers Association comes out to warn of possible strain in the system if new virus variant goes rampant

[webfact]

 

By Pitchayapa Phiwpong

 

The Thai Bankers Association has come out to caution that a new wave of Covid-19 is likely to have an impact on the economy and has come out to seek government’s help to look at resolving the issue of rising non-performing loans (NPLs) during these challenging times.

 

Payong Srivanich, president of the Thai Bankers Association, revealed the “overview of the banking industry” that the COVID-19 pandemic is another crisis that is an ongoing challenge as banks are aware of the increasing risk factors. He said that the impact on the bank’s debtors and activities of the bank itself makes the banking system need to sustain business continuity and for a longer period of time.

 

Payong’s call comes as Thailand discovers its 1st case of the subspecies of the fast-spreading Omicron BA2.75 in Trang province earlier today.

 

Full story: https://www.thaienquirer.com/41959/thai-bankers-association-comes-out-to-warn-of-possible-strain-in-the-system-if-new-virus-variant-goes-rampant/

 

-- © Copyright Thai Enquirer 2022-07-20

 

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[Pawpcorn]

From full article... Good to see clear thinking prevails... just associate the banking loan default rates with prior "Thai Flood Planning", lol

 

“We have to look at it systematically, if the market forces work, to go against the market forces will cause damage to some system. We must find a way to prevent the system from damaging. If we decide to resist like when there was a flood, the water will go underground and flood anyway. This is something to be cautious about and the Bank of Thailand and the authorities are aware of this issue,” Payong told.

[RichardColeman]

We must find a way to prevent the system from damaging.

 

Not closing the country and shutting the economy down again will help that ! Though with constant and ridiculous state of emergency extensions, anything is possible

 

 

[JimHuaHin]

Talk about stating the bleeding obvious.

[Cake Monster]

20 hours ago, webfact said:

impact on the economy and has come out to seek government’s help to look at resolving the issue of rising non-performing loans (NPLs) during these challenging times.

And the reason there are is a rise in NPL, is that the Banks have lent too much Money out against poor asset values, and to people borrowing against Overtime Money.

Why should the Government bail out these Banks ?

They lent the Money, hoping to get massive profits for their Shareholders, and now its gone sour.

As the saying goes " Suck it up Banks " and reduce your fat premiums, after all, it is a case of self inflicted wounds.

[lujanit]

20 hours ago, webfact said:

The Thai Bankers Association has come out to caution that a new wave of Covid-19 is likely to have an impact on the economy and has come out to seek government’s help to look at resolving the issue of rising non-performing loans (NPLs) during these challenging times.

Asking the ‘government’ to help is a forlorn quest.  All Prayuth and his cronies do is help themselves to more loot.  The greed of this mob is astounding.

[Excel]

2 minutes ago, lujanit said:

Asking the ‘government’ to help is a forlorn quest.  All Prayuth and his cronies do is help themselves to more loot.  The greed of this mob is astounding.

To be fair, he has only done what he was instructed to do and if you think that was greedy then I guess that is insignificant what the monkey has accrued compared to that of the organ grinder.

[freedomnow]

One more lockdown away from a Sri Lanka event...?

 

Doubt it, but if they saying that its near some kind of domino collapse.

[Cake Monster]

9 minutes ago, freedomnow said:

One more lockdown away from a Sri Lanka event...?

 

Doubt it, but if they saying that its near some kind of domino collapse.

Banking Associations of any Country do not make such statements in a " Healthy Economy ".

Maybe this is the reason there have been so many selloffs on the Stock Exchange and capital outflows over the previous couple of Months or so.

 

[peterfranks]

27 minutes ago, Cake Monster said:

Why should the Government bail out these Banks ?

You better pray they do, unless you don't mind the possibility of losing your savings.

[hotchilli]

21 hours ago, webfact said:

The Thai Bankers Association has come out to caution that a new wave of Covid-19 is likely to have an impact on the economy and has come out to seek government’s help to look at resolving the issue of rising non-performing loans (NPLs) during these challenging times

After 8 years Thaialands in a mess, can't see Prayut making any changes.

[NoshowJones]

4 hours ago, peterfranks said:

You better pray they do, unless you don't mind the possibility of losing your savings.

Another reason for keeping you money in your home country and only keep your living expenses here in this Banana Republic with it's low IQ Junta.

[Pib]

 

Quote

...to seek government’s help to look at resolving the issue of rising non-performing loans (NPLs)...

NPLs means less profit/loss for the banks....that all the Thai Bankers Assn is really worried about,

[zoltannyc]

It's interesting how English is evolving:
Deadbeat borrowers turned into delinquent debtors changed to bad loans became uncollectable loan transformed to non-performing loan....

[jacko45k]

21 hours ago, Cake Monster said:

As the saying goes " Suck it up Banks " and reduce your fat premiums, after all, it is a case of self inflicted wounds.

And those who have deposits?