Bangkok Commercial Asset Management (BAM), a prominent player on the Stock Exchange of Thailand (SET), anticipates a decrease in auction prices for bad debt sales in 2024 due to a rising supply amid economic sluggishness. The financial institutions are expected to face increased challenges with the escalation of distressed debts, influenced by depreciating auction prices for both non-performing loans and non-performing assets.
The Chief Executive of BAM, Bundit Anantamongkol, advises banks to approach asset sales judiciously this year, striking a balance between profit-making and writing off bad debt. He predicts that banks will continue to offload their bad debt to asset management companies, though the total amount is likely to diminish following the substantial volume sold last year.
In 2023, the banking industry’s sales of bad assets totalled…
