BAM ACHIEVED 2014 PROFIT AT 4.5 MILLION BAHT

BAM presented its 2014 performance with the profit of 4,593.48 million baht and total cash collection of 15,885.74 million baht. In the past year, BAM acquired NPLs and NPAs from other financial institutions in the amount of 27,337 million baht. For this year, the target of cash collection is 19,301 million baht and the net profit is 5,079 million baht.

           Mr. Krit Sesavej, the President of Bangkok Commercial Asset Management Co.,Ltd. (BAM), revealed BAM’s 2014 performance that the total revenue from debt restructuring and sales of properties for sale was 15,885.74 million baht and the net profit was 4,593.48 million baht. Regarding BAM’s operation in 2014, asset size increased due to purchasing of non-performing loans (NPLs) and non-performing assets (NPAs) from financial institutes in the amount of 27,337 million baht. Currently, BAM has 70,801 items of NPLs with value of 408,669 million baht and 11,818 items of the NPAs with value of 34,520 million baht.

           The President of BAM has set the target of 2015 that the cash collection would be approximately 19,301 million baht and the net profit would be around 5,079 million baht. The operating strategy focuses on sustainable growth of the business, maintenance of the sufficient financial liquidity for business expansion, effective repayment with the speed in returning NPLs and NPAs into cash, and development of infrastructure and personnel to support business growth and increase operational efficiency.

           The 2015 marketing plan has been focused on boosting sales of properties for sale by opening booths at real estate expo in Bangkok and vicinity throughout the year such as, NPA Grand Sale during August 20-23, Land of Vision during June 11 – 15, Condo of Life during July 14 – 20, and Home of love during September 8 – 14. BAM has also planned to open booths in various department stores and superstores in the provinces. In addition, BAM has prepared special campaigns and promotions for customers, e.g. waiving right transferring fee for the customers who bought the assets with lower price than 2 million baht under cash payment or customers could select to make installment payment with BAM. This will support low income people with inability to reach credit provider to possess their own accommodation.