Mr. Bundit Anantamongkol, BAM’s CEO, reveals his vision and role as a leader of Thailand’s largest AMC.

     BAM’s Chief Executive Officer disclosed his vision and role as a leader of Thailand’s largest AMC, stressing the essence of BAM’s business which encompasses reviving NPLs and NPAs as well as driving the country’s economy. The CEO revealed BAM’s strategic plan for 2021, stating that the Company would acquire no less than 9 billion baht worth of NPLs and NPAs for management and forecasting the annual collection to be 17 billion baht. The Company’s information technology development under BAM Digital Enterprise goal is also being accelerated. Moreover, human resource is being promoted to ensure BAM’s sustainable growth. As for 2020 performance, the Company posted a net profit of 1,840 million baht. The collections for the next five years are also strategized for constant increase.

     Mr. Bundit Anantamongkol, Chief Executive Officer of Bangkok Commercial Asset Management Public Company Limited or BAM, revealed that it has been a challenge to take the CEO position under the economic slowdown caused by the COVID-19 pandemic. BAM’s goal, however, remains to be the largest asset management company or AMC in the country. This indicates the Company’s significant role in recovering assets and driving Thai economy through managing NPLs in financial institutions system which allows debtors to regain their collaterals, e.g. residences or workplaces, and businesses to return to the economy and through managing properties for sale (NPAs), making them ready for sale in good condition and at fair prices, which would ultimately stimulate growth of the second-hand real estate market as well.

     In 2021, BAM sets the target collection at 17,452 million baht. Meanwhile, an investment budget to acquire NPLs / NPAs for management is at least 9,000 million baht through auctions from financial institutions and the Legal Execution Department. At the present, BAM has 85,102 NPL accounts that represent the total principal balance of 484,881 million baht and 21,574 NPA items that represent the appraisal value of 62,571 million baht.

     Concerning management of NPLs, BAM has employed a strategy to shorten turnaround time which focuses on gaining short-term collections by expediting receipts of accrued income from auction sales from the Legal Execution Department. Also, the Company selects secured and unsecured NPL portfolios for auction sales. Moreover, the development of E-TDR system is being accelerated under which debtors are initially able to make a repayment through the application. The Company also increases the number of TDR accounts to be not less than 3,500 accounts. Additionally, opportunities to restructure debts are provided to debtors through “Happy to Have Your Home Back” program, “BAM Debt Discounts” program and “BAM Revitalizes Your Business” program.

     For the management of NPAs, BAM has strategies to promote properties for sale in order to shorten turnaround time. The company selected 3,000 NPAs with special prices and NPAs of high value for further investment. There are also properties selected for retail investors, who are a repeat purchase group, and properties for SMEs and Start-Ups which are accompanied by our creative solutions. BAM plans to expand our installment customer base, expecting to have more than 1,000 accounts by 2021.

     In terms of this year’s marketing plan, the Company focuses on promotional activities according to target segments and arranges campaigns throughout the year such as a free-transfer promotion and gift vouchers for customers who transfer the ownership right within 30 days. In addition, the Company prepares to hold online auctions. During the New-Normal period, digital media plays an important role in marketing because the usual promotional activities, for example, physical booths or other events have limitations. As a result, BAM accelerates the development of the corporate website and various social media in order to make it convenient for customers to contact and use our services.

     Chief Executive Officer of BAM added that the Company aims at developing IT infrastructure to become a digital enterprise in order to drive the business more efficiently, to reduce time, and to re-process. Moreover, it has the policy to develop employees by reskilling or upskilling. This can enhance existing skills and promote new skills to support changes in the digital era.

     Mr. Bundit further pointed out that for the operating results in 2020, although it was a difficult year due to the economic slowdown caused by the Covid-19 outbreack, BAM still had overall performance in the satisfactory level. Cash collection was 13,134 million baht divided into 8,396 million baht of NPLs collection and 4,738 million baht of NPAs collection. In addition, the net profit was 1,840 million baht.

     At the same time, BAM has set the target for collections in the next 5 years, expecting continuous revenue growth. The collection targets are 17,452 million baht in 2021, 18,953 million baht in 2022, 20,510 million baht in 2023, 22,199 million baht in 2024, and 24,036 million baht in 2025, respectively.

     However, over the past 20 years, BAM has operated businesses that take the Environmental, Social, and Governance or ESG approach. The company has assisted all stakeholders under the concept of BAM-D, which consists of good for the country, good for society, good for customers or debtors, good for shareholders, and good for employees, to create sustainable growth in all relevant dimensions.