BAM Budgets ฿10Bn for NPA-NPL, Expecting Business Penetration in Neighbouring Countries

Mr. Bunyong Visatemongkolchai, Chairman of Executive Committee of Bangkok Commercial Asset Management Public Company Limited (BAM), revealed that the company has a 10 billion baht of investment budget for bad debt purchasing (NPA and NPL) to its portfolio at a total of 15 billion baht, an increase from last year by 3 billion baht.

 

The company stated that due to the resurgence of Covid-19 and the economic slowdown, resulting in the possibility of bad debt to increase. Meanwhile financial institutions also want to dispose their bad debt to decrease NPL ratio, leading to the decision in setting the budget for well-worth debt purchasing.

Mr. Visatemongkolchai stated that the company targeted its revenue in 2021 at 17 billion baht, increased from 2020, which is estimated at 13 billion baht. The strategy this year will be aiming to sell NPA at a faster pace, while being able to reach new customers by implementing new procedures to lower procession steps and be more efficient.

More importantly, the company continued to sell NPA through an online platform, which is the most efficient channel to expand its customer base with positive responses. Currently, the company is negotiating with partners to create more online channels.

 

In addition, BAM planned to further its business by seeking and negotiating with various partners to create long-term sustainability for the company, while diversifying its business and recognizing more income from other channels. Currently, the company is looking at Real estate appraisal business to create recurring income, financial and real estate advisor business. Lastly, the company is also looking to purchase and manage assets in neighboring countries as well, which is the plan for the company to further its business in the next five years.