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Thai state-run bank to raise 3.9B baht from bad-loan sales

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Thai state-run bank to raise 3.9B baht from bad-loan sales

Thailand's Government Housing Bank is looking to raise 3.9 billion baht from the sale of bad loans in 2018, the Bangkok Post reported.

Chairman Surachai Danaitangtrakul said the state-run bank wants to sell 4,000 nonperforming assets in 2018, up from 3,500 bad loans sold in 2017. The bank currently has 10,000 nonperforming loans worth 8 billion baht, the report noted.

The bank is looking to attract buyers by offering no interest for the first two years on mortgages to those who pay a 20% down payment, among other things.

As of July 5, US$1 was equivalent to 33.20 Thai baht.