Banks’ NPLs last year upped 40 billion baht to 382 billion baht

 

 

BANGKOK: -- Non-performing loans for commercial and state-owned banks for the year 2016 have increased by about 40 billion baht to 382 billion baht for the entire banking system, representing an increase of 11 percent compared to the NPLs of the year before.

 

According to informed banking sources, state-owned Krung Thai Bank had the highest amount of NPLs whereas CIMB Thai Bank’s NPLs almost doubled from 6.4 billion baht in 2015 to 12.7 billion baht in 2016, representing 6.1 percent of its overall lendings mainly to rice millers.

 

Krung Thai Bank managing director Payong Srivanich said that several rice milers experienced financial problem last year due to low rice prices and export slump and unsold rice stocks in their warehouses.

 

Full story: http://englishnews.thaipbs.or.th/banks-npls-last-year-upped-40-billion-baht-382-billion-baht/

 

-- © Copyright Thai PBS 2017-01-31

the local shop owner asked to borrow money off me two days ago and i see other signs of impending problems. Hes a hard working guy but he says business is right down.

Hotel owners and other entrepreneurs have been known default into NPL status because it gives them a moratorium from paying taxes and bank execs that help facilitate NPLs need to be audited for inexplicable enrichment.

This comes as no surprise to anybody that walks around with their eyes open.

The banks can blame the rice millers for most of the NPL,s, but the bottom line is that the economy is on its knees, and the Thais are living in some kind of state of denial ( as are many other nations )

Canary. Coal mine.

don't worry 4.0 is around the corner