Mongkol denies NPLs prompted exit
Former senior banker Mongkol Leelatham yesterday strongly denied that his recent departure from Thai Credit Retail Bank was a result of the accumulation of non-performing loans (NPLs).
Having taken up a senior financial position at Thai Public Broadcasting Service, Mongkol said he left the bank, where he had served as executive chairman, because of significant changes in the shareholding structure, which led to many resignations, including his own.
“My resignation from the bank had to do with changes in the shareholding structure only. There was no other cause whatsoever,” Mongkol said in a press statement.
Post Today yesterday linked his resignation to an increase in the bank’s NPLs, a claim Mongkol strongly dismissed. He insisted that under his watch the bank was consistently given a clean bill of health by the central bank.
“I worked for the bank from its founding, and played a role in making it become a small yet very stable bank amid very big players in the industry,” his statement said. “The bank has survived problems caused by political changes and natural disasters, and compulsory inspections by the Bank of Thailand never found such problems as reported.”
The change of shareholding structure followed a stake reduction by Thai Life Insurance, resulting in the arrival of some foreign funds.
Mongkol is among the new ThaiPBS management team whose predecessors completed their terms recently. He hopes to use his banking experience to help improve the management of the public TV station.
“Although I’m not working in the banking industry, I’m hoping to utilise my experience as a banker to help this TV station, which was established with the noble idea of serving as the voice of the public,” Mongkol said.
Between 2007 and June this year, Mongkol was the bank’s chief executive officer and managing director.
