webfact Posted August 22, 2019 Share Posted August 22, 2019 BBL sees rising credit card defaults By The Nation Bangkok Bank (BBL) is facing rising non-performing loans (NPL) of its credit card accounts with more clients resorting to cash withdrawals as revolving fund for their businesses. Shoke Na Ranong, the bank's executive vice president and manager of credit card division, said NPLs rose to 2.1 -2.2 per cent in the second quarter this year from 1.9 per cent from the end of last year. The trend can be attributed to the slowing economy, prompting cardholders to withdraw cash for business and general expense. Cardholders who have defaulted on their monthly payments will be subject to a higher interest rate than other loans. It is not a major concern but the bank would keep a close watch on the situation, he said , adding that he does not recommend cash withdrawals on credit card as cardholders should instead seek other loans with lower interest rates. These cardholders are mostly running their own businesses or working as freelancers. The bank will deal with this customer group by monitoring their behaviour or limiting the amount they could withdraw with the card. It will also be more prudent in issuing new cards. Source: https://www.nationthailand.com/business/30375210 -- © Copyright The Nation Thailand 2019-08-23 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
Sonhia Posted August 22, 2019 Share Posted August 22, 2019 A few weeks ago, a report claimed Thai are such big Credit card spenders compared to other nationals especially when travelling, but the report forgot to mention the true scale of serious dept the majority of Thai are actually facing. Thai are no different to other nationalities. I'm tired of reading misinformation, why can't the truth simply be told? Thai are in serious financial difficulty, tourism figures are dramatically down, the economy is in a bad shape. Thailand is no different to most other countries. Link to comment Share on other sites More sharing options...
PatOngo Posted August 22, 2019 Share Posted August 22, 2019 53 minutes ago, Sonhia said: I'm tired of reading misinformation, why can't the truth simply be told? Face over rides the truth in most situations. I'm convinced they even lie to themselves!...…..And believe it! Link to comment Share on other sites More sharing options...
FarFlungFalang Posted August 23, 2019 Share Posted August 23, 2019 1 hour ago, Sonhia said: I'm tired of reading misinformation, why can't the truth simply be told? Why do you read such lies? Link to comment Share on other sites More sharing options...
Sydebolle Posted August 23, 2019 Share Posted August 23, 2019 I had a Bangkok Bank VISA credit card with a limit of THB 350'000 some 20 years ago. Never ever paid a day late. In autumn 1997 I was on a business trip in Hamburg and on check-out from the hotel the cashier could not get an approval code for the payment by credit card. Her bank told her, that I reached my spending limit. My call to Bangkok Bank in Bangkok revealed, that my credit card limit was lowered to THB 80'000 for safety due to the Asian Financial Crisis - without of course telling me a word. I luckily had a Plan B option. Upon return to Bangkok the visit to Bangkok Bank was unpleasant for them. I closed all business and private accounts and never ever entered this monster of a bank again. Ever since very happy with an "alien" bank, which according to their own statement "never sleeps" - a true statement and decisions made with common sense in mind. Stay tuned, this will happen again as they did not learn a thing 20 years ago! Link to comment Share on other sites More sharing options...
Benmart Posted August 23, 2019 Share Posted August 23, 2019 4 hours ago, FarFlungFalang said: Why do you read such lies? Most likely because of choice. Link to comment Share on other sites More sharing options...
CGW Posted August 23, 2019 Share Posted August 23, 2019 2 hours ago, Sydebolle said: Stay tuned, this will happen again as they did not learn a thing 20 years ago! Simply not true, they now have huge foreign reserves, they learnt a lot - strange as that fact is! Link to comment Share on other sites More sharing options...
NCC1701A Posted August 23, 2019 Share Posted August 23, 2019 9 minutes ago, CGW said: Simply not true, they now have huge foreign reserves, they learnt a lot - strange as that fact is! you beat me too it. there is not going to be repeat of 1997 no matter how much expats on TV want to believe it. Link to comment Share on other sites More sharing options...
Krataiboy Posted August 23, 2019 Share Posted August 23, 2019 5 hours ago, Sonhia said: A few weeks ago, a report claimed Thai are such big Credit card spenders compared to other nationals especially when travelling, but the report forgot to mention the true scale of serious dept the majority of Thai are actually facing. Thai are no different to other nationalities. I'm tired of reading misinformation, why can't the truth simply be told? Thai are in serious financial difficulty, tourism figures are dramatically down, the economy is in a bad shape. Thailand is no different to most other countries. The official household debt to GDP ratio in Thailand, which averaged 49.89 percent of GDP from 1991 to 2018, is now 78%. "If one includes informal household loans, the total household debt figure could easily be near 100% of GDP", according to economist Chartchai Parasuk. https://www.bangkokpost.com/opinion/opinion/1644312/household-debt-squeezing-the-nation Link to comment Share on other sites More sharing options...
RichardColeman Posted August 23, 2019 Share Posted August 23, 2019 I like to know if the same people are repeating it with others banks - robbing the peter c/c to pay the paul c/c Link to comment Share on other sites More sharing options...
Justgrazing Posted August 23, 2019 Share Posted August 23, 2019 10 hours ago, webfact said: It will also be more prudent in issuing new cards. Horse , stable-door and too late comes to mind .. Link to comment Share on other sites More sharing options...
bluesofa Posted August 23, 2019 Share Posted August 23, 2019 14 minutes ago, Justgrazing said: Horse , stable-door and too late comes to mind .. Why do they call that horse the blacksmith? 'Cos every time anyone tries to kick his nuts he makes a bolt for the stable door. Link to comment Share on other sites More sharing options...
Justgrazing Posted August 23, 2019 Share Posted August 23, 2019 2 hours ago, RichardColeman said: I like to know if the same people are repeating it with others banks - robbing the peter c/c to pay the paul c/c I know my ex bird used to juggle debt from one to t'other using me as the backstop when it didn't add up despite my impersonating a dog chasing its tail to try and get the message over that it is an exercise in pointlessness .. Link to comment Share on other sites More sharing options...
Sydebolle Posted August 23, 2019 Share Posted August 23, 2019 4 hours ago, NCC1701A said: you beat me too it. there is not going to be repeat of 1997 no matter how much expats on TV want to believe it. I hope all of you are right. Yet, the FOREX inflow at the moment is - apparently - mostly Chinese pumping (mostly) untaxed money into Thailand's real estate to make the money official - guess you get what I am thriving at. Export revenues are lower, question is if the drop in volume is compensated/overtaken by the appreciation of the Baht - for the time being. Tourism is another toothache in more than one way. I just see massive spendings, extremely unhealthy exchange rates and lots of suffering by Thais in the Northeast with failed harvests, drought in one place, floods in another while staple food prices seem to go through the roof as far as i.e. rice is concerned. Very confusing times indeed! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.