Thailand’s household debt is expected to soar to 16.9 trillion baht, or 91.4% of GDP, by the end of this year, with the value of non-performing loans (NPLs) in the banking system estimated at about 152 billion baht, according to TMB Thanachart Analytics.
Household debt, by the end of the third quarter last year, stood at 16.2 trillion baht, up 3.4% on the same period a year before, and the debt accounted for 90.9% of GDP.
The 3.4% increase was less than the same period in 2022 because commercial banks had tightened lending practices, which was contradictory to credit card loans, leasing and personal loans, which increased at a higher rate within a decade, said TMB Thanachart Analytics.
NPLs in the banking system increased by 2.79%, to about 152 billion baht, while outstanding car lease repayments, overdue by 1-3 months, amounted to about 170 billion baht, excluding lending by…
