BoT begins probe into SAM’s NPA and NPL sales

The Bank of Thailand is investigating irregular transactions at Sukhumvit Asset Management (SAM) related to non-performing asset (NPA) adjustment and non-performing loan (NPL) sales.

Ronadol Numnonda, deputy governor for financial institutions stability at the Bank of Thailand and director of the Financial Institutions Development Fund (FIDF) and a major shareholder in SAM, said SAM has appointed an investigation subcommittee to investigate the company’s management of irregular transactions.

As a major shareholder of SAM that emphasises good governance, the FIDF has sent four experts with more than 30 years of investigation experience combined to be part of the subcommittee, said Mr Ronadol in a statement. The investigation is scheduled to take 60 days.

If any wrongdoing is found, those who are responsible will be prosecuted, said Mr Ronadol.

Established in 2000,…