KTC to transfer bad loans to SAM

Krungthai Card (KTC), a non-bank subsidiary of Krungthai Bank, is preparing to transfer nonperforming loans (NPLs) to Sukhumvit Asset Management (SAM) next year as part of the authorities’ new debt resolution scheme.

- SOMRUED!I BANCHONGDUANG

Ms Pittaya says KTC is waiting for guidance from authorities.

Pittaya Vorapanyasakul, president and chief executive of KTC, said the company is ready to join the “Clear Debt, Move Forward” scheme being developed by relevant agencies, including the Finance Ministry and the Bank of Thailand.

KTC is awaiting guidance from the authorities, particularly on the criteria for transferring eligible debts to asset management companies.

Under the scheme, the authorities aim to address small-scale household debts of less than 100,000 baht per borrower. Eligible NPLs are slated for transfer to SAM, which operates under the central bank’s supervision.