SCB sells Bt8bn of NPLs

Siam Commercial Bank is encouraged to sell more non-performing loans through auctions in the rest of this year, after the success in selling over Bt8 billion of NPLs in the first quarter.

Buyers of the Bt8 billion NPLs were Morgan Stanley and Alpha Capital Asset Management.

SCB President Kannikar Chalitaporn said in a statement that more auctions will be organised later on this year. She expected success in selling the NPLs and reducing the bank's NPLs.

The bank's NPLs had declined from 7.9 per cent in 2006 to 6.1 per cent in 2007. It expects to reduce the NPLs to 5 per cent or below in 2008.

- The Nation

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SCB sells Bt8bn of NPLs

Siam Commercial Bank is encouraged to sell more non-performing loans through auctions in the rest of this year, after the success in selling over Bt8 billion of NPLs in the first quarter.

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