BAM accentuates the capability to be a retention basin absorbing bad debts for financial institutions by promoting 4 projects to help debtors return to the economy.

       BAM continues to accentuate the capability to be a retention basin for absorbing bad debts from financial institutions and turning them into good debts by promoting 4 projects to help debtors return to the economy. The Company revealed that over 124,089 NPLs accounts have been managed and settled, with a total principal balance of 295,539 million baht. BAM is now ready to establish an online debt resolving center to help advise people on debt problems, free of charge.

       Mr. Bundit Anantamongkol, the CEO of Bangkok Commercial Asset Management Public Company Limited (BAM) stated: “BAM currently has 84,478 NPLs accounts under our management, representing a total debt of 467,080 million baht. BAM has planned to increase the size of assets by bidding for additional assets from financial institutions to manage, with targeted acquisition cost of 10 billion baht per year in order to increase the capability to be a retention basin that supports bad debts and turn them into good debts returning to the normal economy.”

       Mr. Anantamongkol added: “BAM has been using a variety of measures to restructure debts with debtors, including providing lenient repayment conditions, transfer of collateral for debt settlement, debt-to-equity conversion, or debt restructuring according to the debtor's repayment ability. Additionally, BAM has pushed 4 projects to help each segments of debtors, such as the Happy to Have Your Home Back project, which allows debtors whose homes are used as collateral to repay only 80% of the appraised value with 0% interest for 2 years (applicable to any debtor with the principal balance of no more than 10 million baht), or the BAM Revitalizes Your SME Business project for start-up and SME debtors with a principal balance of no more than 20 million baht per account, allowing repayment of only 80% of the appraised value with 0% interest for 1 year, the BAM Helps Reduce Debts project allowing unsecured debtors with principal balance of no more than 3 million baht to choose to pay off debts once within 90 days or pay in installments within 3 years under flexible conditions, and the BAM Helps Farmers Reduce and Discharge Debts project to assist agricultural farmers in debt restructuring which enables them to repay according to their capacity and with lenient conditions.”

       “BAM would like to invite all debtors to carry out debt restructuring with us as we have a policy on debt restructuring which gives maximum benefit to all parties. In addition to the aforementioned 4 projects, BAM continues to negotiate with debtors for appropriate debt restructuring terms according to their repayment ability. Therefore, BAM's debtors are asked to be confident that we will try to offer the most possible conditions for our debtors,” further stated Mr. Anantamongkol.

       Mr. Anantamongkol added: “BAM's debt restructuring customers will receive a document that specifies a barcode or QR code for making payment through various service channel, whether it is payment made at a counter service or a commercial bank branch, via the QR payment method, or at BAM offices or branches nationwide. To emphasize BAM’s leadership in the non-performing asset management business, BAM has also launched an official account on Facebook called "Online Debt Resolving Center by BAM” to support BAM’s debtors and debtors of other institutions, which is considered a social service. This is a platform that provides advice and consultation on debt problems and solutions that will help debtors get away from obstacles and difficulties from being in debt. This service is free of charge and provided by our debt restructuring experts who can give answers to all questions.”

       For more information, interested customers can contact our Call Center at 02-6300-700 or visit www.bam.co.th or our social media: BAM Thailand.