snoop1130 Posted January 31 Share Posted January 31 BANGKOK (NNT) - The Thai Bankers Association (TBA) has revealed that commercial banks in the country are currently in the process of restructuring 6.1 million outstanding loans totaling 3.4 trillion baht. The move allows repayment to become more manageable for debtors, thereby reducing the risk of defaults and enhancing the overall health of the country's banking sector. TBA President Phayong Srivanich highlighted the association's efforts to assist debtors struggling with repayments since the COVID-19 pandemic. These accounts, at risk of becoming non-performing loans (NPLs), are receiving targeted support under responsible lending policies. Debtors facing difficulties, including those who have missed a single installment, qualify for debt restructuring. For accounts that have already entered NPL status, banks are offering a repayment window of up to five years with an interest rate reduction of 15% per annum. Early repayment penalties will also be waived for participants in the debt restructuring program. According to the TBA President, customers struggling to make payments are urged to contact their banks as soon as possible for debt restructuring advice. The TBA now plans to establish a database featuring alternative credit information, including utility payment records and vendor incomes, to facilitate bank loan access for those lacking conventional credit, preventing reliance on high-interest external loans or loan sharks. By Krajangwit Johjit Full story: NNT 2024-01-31 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe 1 1 Link to comment Share on other sites More sharing options...
retarius Posted January 31 Share Posted January 31 Is it time to take money out of the banks here? But where to put it, it won't fit in the safe and someone might steal it if I leave it under the mattress or maybe dig a deep hole in the garden, but then small withdrawals become inconvenient ((all that digging). Link to comment Share on other sites More sharing options...
Popular Post BigStar Posted January 31 Popular Post Share Posted January 31 33 minutes ago, retarius said: Is it time to take money out of the banks here? But where to put it, it won't fit in the safe and someone might steal it if I leave it under the mattress or maybe dig a deep hole in the garden, but then small withdrawals become inconvenient ((all that digging). Your wife or gf will provide a solution. 1 2 3 1 Link to comment Share on other sites More sharing options...
oxo1947 Posted January 31 Share Posted January 31 48 minutes ago, retarius said: is it time to take money out of the banks here? But where to put it, it won't fit in the safe It won't fit into a safe.....Wow I don't have that problem, mine will fit into my back pocket... 1 Link to comment Share on other sites More sharing options...
Gknrd Posted January 31 Share Posted January 31 "Early repayment penalties" Wow, kinda like the early withdrawal penalties here in the US. Banks in Thailand have had a field day for years now. What's around the corner is yet to be seen. Link to comment Share on other sites More sharing options...
mommysboy Posted January 31 Share Posted January 31 Cooking the books. Link to comment Share on other sites More sharing options...
hotchilli Posted January 31 Share Posted January 31 11 hours ago, retarius said: Is it time to take money out of the banks here? But where to put it, it won't fit in the safe and someone might steal it if I leave it under the mattress or maybe dig a deep hole in the garden, but then small withdrawals become inconvenient ((all that digging). Or find a more suitable country to reside. Link to comment Share on other sites More sharing options...
Guderian Posted February 1 Share Posted February 1 The last time I looked, the Thai government deposit insurance runs to a measly one million Baht per account. So to be safe, just make sure none of your accounts has over a million in it and, in theory at least, you can't lose a satang. Of course, a run on a major bank here would probably trigger a currency crisis, and your safe stash of Baht would then be worth a lot less in USD terms. Swings and roundabouts... 1 Link to comment Share on other sites More sharing options...
john donson Posted February 5 Share Posted February 5 and in the meantime the land department is blocking an owner that wants to sell, to allow me a usufruct so my GF could buy the house and current owner could pay back the 3 million they owe the bank... Link to comment Share on other sites More sharing options...
mommysboy Posted February 5 Share Posted February 5 2 hours ago, john donson said: and in the meantime the land department is blocking an owner that wants to sell, to allow me a usufruct so my GF could buy the house and current owner could pay back the 3 million they owe the bank... I think you, or the current owner, but most likely you will have to assume/ pay the debt before sale can go ahead. Link to comment Share on other sites More sharing options...
The Cyclist Posted February 5 Share Posted February 5 2 hours ago, john donson said: and in the meantime the land department is blocking an owner that wants to sell, to allow me a usufruct so my GF could buy the house and current owner could pay back the 3 million they owe the bank... You, your GF, seller and bank member meet at the LD complete with 2 bankers drafts, one for the bank and the other for the seller. Job Jobbed. Link to comment Share on other sites More sharing options...
soi3eddie Posted February 5 Share Posted February 5 The banks are worried and know that dire straits for them and their clients are here and now. Better to cling on to whatever they can realise rather than the loans go delinquent. Link to comment Share on other sites More sharing options...
Celsius Posted February 5 Share Posted February 5 10% devaluation coming Link to comment Share on other sites More sharing options...
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