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KTC expects profit to miss target by Bt1 billion due to Covid-19 impact

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KTC expects profit to miss target by Bt1 billion due to Covid-19 impact

By THE NATION

 

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Krungthai Card (KTC) estimates that its profit for the year would be Bt1 billion below its target following the reduction of interest to support its customers.

 

KTC president Rathian Srimongkol said that 99 debtors among 2.5 million had asked for suspension of debt repayment, under the assistance measure issued by the Bank of Thailand. The first phase of this measure ended on June 30.

 

In addition, around 4,000 customers have registered to adjust their debt structure.

 

In the next phase, the president said that KTC would need to monitor more debtors registering for its remedial programme.

 

He said the trend to default in the next six months would improve, after seeing an improvement in the default rate in June, compared to the same period last year.

 

“We believe that our customers are capable of repaying their debt, but we plan to be more strict in issuing credit cards to new customers,” he added.

 

Source: https://www.nationthailand.com/news/30390829

 

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-- © Copyright The Nation Thailand 2020-07-06
 

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All because we can't order the "original recipe."

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We believe that our customers are not capable of repaying their debt he means 🤔

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I wonder what amount those 99 debtors have borrowed and what %age is it of the banks total liability.

 

 

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They'll chase the small guys and let the big fish keep the deb going.

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9 hours ago, webfact said:

after seeing an improvement in the default rate in June, compared to the same period last year.

Seriously ? I cannot believe Thais were defaulting more last year than this year

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Anyone else read this as KFC i was most interested until i opened the topic

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13 hours ago, Chelseafan said:

I wonder what amount those 99 debtors have borrowed and what %age is it of the banks total liability.

 

 

These 99 will be big borrowers for sure

Maybe large Construction Companies Etc, and the amount of debt could possibly be eye-watering

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53 minutes ago, Cake Monster said:

These 99 will be big borrowers for sure

Maybe large Construction Companies Etc, and the amount of debt could possibly be eye-watering

 

Yes, that's what I think too. I think the bank is playing this down. 99 investors out of 2million looks tiny but it could be 70% of their debt.

 

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