NPL crisis due to Covid-19 ‘worse than 1997 meltdown’
The present Covid-19 crisis was worse than the Tom Yam Kung crisis of 1997, the Bangkok Commercial Asset Management (BAM) has said, adding that non-performing loans (NPL) was of concern for Thailand’s economic system.
BAM explained that financial institutions in 1997 had a low rate fund to deal with NPLs in the economic system. Moreover, the household debt at that time was low, and small businesses were not affected by the crisis.
The Nation Reporter
