23 May 2024

In the first quarter of this year, the state-run Government Savings Bank (GSB) resolved the non-performing loans (NPLs) of more than 720,000 customers, including about 90,000 who were badly affected by the COVID-19 pandemic, according to Vitai Ratanakorn, president and CEO of the bank, today.

He added that, by the fourth quarter, another 100,000 NPLs will have been resolved, provided that there is additional funding made available by the government, adding that the one-time measure is aimed at restoring the financial credibility of debtors, in line with the government’s policy.

Meanwhile, Prasit Veerasilp, acting president of the SME Development Bank, said that the bank will hold an event to help resolve the debts of SMEs across the country, starting on May 13th and 14th in Phetchaburi province.

Indebted SMEs who participate in the event will be entitled to a reduction in the interest charged on defaulted payments, with the rate not exceeding the 7.50% MLR, a reduction in the amount of each instalment, to a level affordable by the debtors, and a cut in the interest charged on delayed payments, said Prasit.

If the debtors settle the full amount of the debt, the bank will write off all the overdue interest charges, to ease the burden on the SMEs so they can resume their business, he added.
Similar events will be held from May to August, in the hope that over 10,000 SMEs will take advantage of the assistance on offer.