In the past year, the Bank of Thailand (BOT) has prioritized identifying sustainable solutions for the issue of household debt, stating that Thai household debt is a long-term structural problem and is likely to continue to rise. Despite the ratio
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Three major local banks and a leading insurer announced on Friday the appointment of new executives in response to customer demand amid the changing financial landscape.
Thailand Plans ‘Pawn Shop’ Style Rescue for Hotels Hit by Covid
Bloomberg 3/11/2021 Anuchit Nguyen and Suttinee Yuvejwattana
(Bloomberg) Thailand is finalizing a rescue plan for tourism-related businesses near collapse from the pandemic that would improve their access to credit from banks wary of further bad loans.
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The Finance Ministry, Bank of Thailand and commercial banks are working on a plan allowing cash-poor companies to temporarily park their assets with lenders in exchange for credit, and reclaim them within a specified period. The aim is to keep small businesses such as hotel operators from having to liquidate distressed assets at firesale prices or go out of business because of their debts.
SCB ready to extend relief to hospitality
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Debt holiday scheme could be prolonged
published : 5 Mar 2021 at 04:04 Customers wait to be served at a branch of Siam Commercial Bank in Bangkok.
Siam Commercial Bank (SCB) is ready to prolong its debt holiday programme for the hospitality business in case the Bank of Thailand does not extend its targeted debt relief measures due to expire in June.
The central bank implemented targeted debt moratorium measures in mid-October 2020 for small and medium-sized enterprises (SMEs) with a credit line below 100 million baht that had difficulty servicing existing debts.
The targeted measures are due to end on June 30 of this year. This only applies to targeted SMEs that cannot manage to repay loans to financial institutions because their business operations have not fully recovered.