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Bank of Thailand sees no surge in bad loans after policy rate hike

Thai banks’ bad loans at 2.88%

People use ATMs outside a building in Bangkok. (File photo: Nutthawat Wicheanbut)

The Bank of Thailand (BoT) on Tuesday it expected no surge in bad loans despite a hike in the benchmark interest rate and urged banks to gradually adjust their rates to help vulnerable groups.

Banks’ non-performing loans (NPLs) should gradually rise, helped by debt support measures, Suwannee Jatsadasak, senior director at the BoT, told a news conference.

“We still don’t expect the cliff of NPLs under the support measures available,” she said, referring to large debt defaults in a very short time.

Banks’ NPLs stood at 2.88% of total lending at the end of June, slightly down from 2.93% at…

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