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SME Development Bank joins hands with the Legal Execution Department to sell at auction for large bad debtors of 2,000 million baht to raise funds for new customers.

SME Bank reveals that NPA debt is sold worth 400 million baht, is expected to sell until the end of the year, increases the total amount of more than 600 million baht, is ready to cooperate with the “Legal Execution Department” to sell 15 large NPLs by auction, worth more than 2,000 million baht, raise funds for good quality loans to new customers

Mr. Mongkol Leelatham, Managing Director Small and Medium Enterprise Development Bank of Thailand (SME Development Bank or SME Bank) revealed that the bank has sold bank assets or NPA with a total value of about 1,000 million baht, worth about 400 million baht, creating a profit. Bank about 100 million baht and it is expected that within 2 months of the rest of this year (2018), will sell more about 200 million baht, total NPA sales of more than 600 million baht.

In addition, in cooperation with the Legal Execution Department During December 2018 and the beginning of 2019, the auction of non-performing debts (NPLs) worth approximately 2,000 million baht was the property of major debtors. Has the potential to be able to continue doing business immediately, amounting to 15 cases such as international schools Large integrated chicken farms, golf courses, 5-star hotels and rice mills, etc.

The sale of the said property by auction It is one of the measures in the bank’s NPLs debt reduction policy, which will help the bank to reduce its risk weight. This makes the bank’s financial status more stable and gives the bank the ability to raise funds. to be used to provide good quality loans to new SME entrepreneurs This will increase at least 2 times the value of the NPLs sold.

SMEDnews

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