Government Savings Bank (GSB) resolved 720,000 NPLs in the first quarter, plans to resolve 100,000 more by year-end with government funding, and scheduled debt relief events for SMEs.

Government Savings Bank Resolves Over 720,000 NPLs in First Quarter

In the first quarter of 2022, the state-run Government Savings Bank (GSB) achieved a significant milestone by successfully resolving the non-performing loans (NPLs) of over 720,000 customers. This effort also encompassed assisting approximately 90,000 individuals who had been notably affected by the adverse economic impact of the COVID-19 pandemic. Vitai Ratanakorn, the president and CEO of the bank, proudly announced this positive development today, highlighting the bank’s commitment to supporting its customers during challenging times.

Additional Funding Needed to Resolve More NPLs

Ratanakorn noted that an additional 100,000 non-performing loans (NPLs) are anticipated to be settled by the fourth quarter, dependent on securing further government funding. This one-time initiative aims to rehabilitate the financial standing of debtors in accordance with the government’s strategies and policies.

SME Development Bank Event to Help Resolve Debts

Meanwhile, Prasit Veerasilp, acting president of the SME Development Bank, announced an upcoming event to assist small and medium-sized enterprises (SMEs) with debt resolution. Scheduled to take place on May 13th and 14th in Phetchaburi province, this event aims to provide debtors with reduced interest rates, more manageable instalment amounts, and eased burden on overdue payments. Similar events will be organized from May to August, expecting to aid over 10,000 SMEs in total.

Source : Government Savings Bank (GSB) resolves over 720,000 non-performing loans (NPLs) in Q1

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