FRIDAY, March 29, 2024
nationthailand

Bt3.4 bn of Islamic bank’s NPF to be recovered this year

Bt3.4 bn of Islamic bank’s NPF to be recovered this year

The Islamic Bank Asset Management (IAM) aims to collect Bt3.4 billion of non-performing financing (NPF) of the Islamic Bank of Thailand this year.

Of the target for the year, Bt1.3 billion was recovered in the first six months, and is expected to reach Bt1.850 billion in August this year, IAM’s manager, Thongrob Danampai, said.
He added that IAM was confident of meeting this year’s target.
IAM, which is wholly owned by the Finance Ministry, was set up in 2016 under a Cabinet resolution the same year to manage the Islamic Bank’s NPF.
Thongrob added that IAM has capitalised on technologies and competent staff to effectively manage such NPF.
He added that the bank’s existing small and medium-sized clients still needed to expand their businesses and recruit more staff. He said IAM’s role was to help them revive their businesses as soon as possible. “Once they recover, they can contribute to the country’s competitiveness in the future,” he said.

nationthailand