Sukhumvit Asset Management (SAM), a wholly owned bad-asset management firm under the Financial Institutions Development Fund, is seeking central bank approval to dip its toes into debt collection service for consumer loans. He said SAM targets purchasing 5 billion baht worth of distressed assets from financial institutions this year, having already purchased assets worth 1 billion in the first quarter. Moreover, SAM managed to restructure NPLs worth 8.68 billion baht and divest 976 million from NPA sales during the first quarter. SAM's NPLs under management tallied 360 billion baht from 19,141 accounts, while NPAs were worth 22 billion baht from 3,801 items. The company contributed 8 billion baht in income to the rescue fund last year, surpassing its target of 7 billion.

Source: Bangkok Post April 18, 2017 23:37 UTC