Thailand's non performing loan crisis now is worse than 1997, says asset manager

BANGKOK, Oct 12 (The Nation/ANN) - 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.