In the first quarter, the Government Savings Bank resolved non-performing loans for 720,000 customers, including 90,000 impacted by COVID-19. The SME Development Bank will also assist SMEs with debt relief.
Government Savings Bank Resolves NPLs for 720,000 Customers
In the first quarter of this year, the Government Savings Bank (GSB) resolved the non-performing loans (NPLs) of over 720,000 customers, including 90,000 affected by the COVID-19 pandemic, announced Vitai Ratanakorn, president and CEO of the bank. By the fourth quarter, another 100,000 NPLs are expected to be resolved with additional government funding to restore debtors’ financial credibility.
SME Development Bank Event to Assist Indebted SMEs
The SME Development Bank will hold an event on May 13th and 14th in Phetchaburi province to help resolve debts of SMEs nationwide. Participating SMEs can benefit from reduced interest rates on defaulted payments, installment amount reductions, and forgiveness of overdue interest charges upon full debt settlement. Similar events will be held from May to August, aiming to assist over 10,000 SMEs in resuming their business activities.
