The Islamic Bank of Thailand (IBank) aims to reduce its non-performing loans (NPLs) to 8 billion baht this year, from the current level of 13 billion baht, by helping its major corporate customers restructure their debt, says the bank’s president Thaweelap Rittapirom.
He said the bank had total outstanding loans of 62 billion baht last year, of which 20%, or 13 billion baht, were NPLs.
The bank would ask 3-4 major corporate customers to enter its debt restructuring programme. Mr Thaweelap believes they would be able to return to conduct business as usual after entering the programme. These customers had financial troubles even before Covid-19, and the pandemic caused their…
