Tuesday, February 18, 2020

IAM successful in collecting debts, on target to reach Bt2.5 billion by year end

Aug 26. 2019
Thongrob Dan-ampai
Thongrob Dan-ampai
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By The Nation

Islamic Bank Asset Management (IAM) made a net profit of Bt490 million in the first half of this year, the company's manager Thongrob Dan-ampai said on Monday.

He added that the company had been successful in collecting Bt1.3 billion worth of debt in the first half of this year, slightly over half the targetted Bt2.5 billion for 2019 as a whole. This generated a net profit of Bt490 million.

“We manage debt by negotiating with our debtors to restructure their debt and also help them to find partners to inject capital to rehabilitate their businesses. This supports us in managing debt to meet our target,” he said.

The company also expects its financial results in the rest of this year will meet the target and achieve the targeted debt management of Bt2.5 billion.

 

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