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BBL sees rising credit card defaults

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BBL sees rising credit card defaults

By The Nation

 

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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

 

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-- © Copyright The Nation Thailand 2019-08-23

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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?

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4 hours ago, FarFlungFalang said:

Why do you read such lies?

Most likely because of choice.

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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!

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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.

 

 

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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

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10 hours ago, webfact said:

It will also be more prudent in issuing new cards.

Horse , stable-door and too late comes to mind .. 

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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.

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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 .. 

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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! 

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