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Bank of Thailand ordered financial institutions to maintain debtor status until the end of 2020 if the debtor has not recovered Open the bank to hold the debt until June 2021.
Initially, the Bank of Thailand issued an announcement for financial institutions to maintain the classification status of SME borrowers until the end of 2020 (Stand still) so that the debtor can spend the rest of the period. After the end of the debt suspension measures for SMEs, usually from October 22 to the end of the year. In negotiations to adjust payment conditions with financial institutions. This will prevent these debtors from becoming bad debts. And increase incentives for banks to speed up the process of adjusting repayment terms.
However, if the debtor is still unable to return to pay the debt normally OR perhaps partially paid, commercial banks continue to take steps to help borrowers. Until you have enough income to pay the debt again, such as adjusting the payment terms as appropriate to each debtor. In order not to become NPL, other appropriate measures can be taken, such as reducing interest rates for credit cards and personal loans, etc.
For cases where the debtor cannot go OR the income has not returned, commercial banks can suspend their debts on a case-by-case basis for up to 6 months initially from the end of 2020 until the end of June 2021.
Thanks to information from Bangkok business
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