BAM sure of acquiring Bt20 billion in bad loans and assets
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BANGKOK Commercial Asset Management Co (BAM) plans to buy non-performing loans (NPLs) and non-performing assets (NPAs) worth between Bt2 billion and Bt3 billion in the second half as it pursues its full-year target of Bt20 billion.
The company bought Bt17 billion worth in the first half. In the same period, it posted revenue of Bt8.58 billion and net profit of Bt2.28 billion. This means it achieved 62 per cent of its total 2013 revenue target of Bt13.73 billion in the first six months.
“Our first-half revenue was higher than estimated, so we believe that our total revenue will achieve the target,” the company’s president Krit Sesavej said.
He added that although it looked as though the country’s economy would grow only slightly in the second half of the year , purchasing power to pay loans and demand to buy NPAs was still expanding.
Listing
BAM’s plan to list on the Stock Exchange of Thailand is proceeding.
“We believe that the company will be able to list on the SET in the first half of next year,” he said.
Currently, the company has registered capital of Bt13.67 billion, with 547 million shares with par value of Bt25 each.
It has 11,804 NPAs worth Bt37.09 billion, and NPLs worth Bt392.62 billion from 70,918 customers.
