National Credit Bureau warns of 610 billion baht in potential bad housing loans, urges government intervention to prevent defaults.
Key Takeaways
- The National Credit Bureau warns of a potential 610 billion baht in housing loans turning into bad debts, mainly affecting low and middle-income earners.
- Thailand’s household debt, standing at 16.2 trillion baht, poses a significant risk to the economy, with one trillion baht in non-performing loans.
- The automobile industry is experiencing a 12.46% drop in car sales due to increasing household debt and stricter loan criteria by commercial banks, leading to a 50% rejection rate for car loan applications.
Surapol Opasatien, CEO of the National Credit Bureau, expressed concern that many mortgage borrowers, who are mostly low and middle-income earners, have purchased houses for 3 million baht or less. These borrowers are now late by 1-2…
