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Bank of Ayudhya sets financial targets, plans to sell up to 3B baht of NPLs

Bank of Ayudhya PCL declared its financial targets for 2017 and said it plans to sell nonperforming loans worth up to 3 billion Thai baht, Reuters reported Jan. 31.

The bank is setting a target of 3.7% for its net interest margin in 2017 and noninterest income growth of 5%. It is also targeting nonperforming loan ratio of less than 2.5%.

The bank also plans to sell nonperforming loans worth 1 billion baht to 3 billion baht in 2017, compared to the 2.8 billion baht it sold in 2016. It added that it is looking for opportunities to buy assets.

As of Jan. 30, US$1 was equivalent to 35.21 Thai baht.