Thailand's BAM aims for 10% revenue, profit growth
Bangkok Commercial Asset Management sees good profit in rehabilitating debts and selling NPAs.
Its strategy is to choose non-performing assets for sale that match with the demand in the market.
Through this the group targets 10-percent growth both in revenue to Bt13.73 billion and in net profit to Bt3.6 billion this year.
President Krit Sesavej said that strong demand for resale homes along the mass-transit route extensions from inner to outer Bangkok helped boost the market value of its non-performing assets (NPAs), especially residences. Its sales campaigns were successful last year and the momentum is expected to carry into this year, he said.
Last year, BAM's revenue increased 13.43 percent to Bt13.61 billion from rehabilitating its customers' debts and selling NPAs. Its net profit rose by 10 per cent to Bt3.25 billion.
It is currently managing non-performing loans worth Bt369.91 billion from 55,857 accounts and NPLs worth Bt37.99 billion from 12,923 assets.
The company will continue holding events at its 24 branches to sell its NPAs, he said. It will set up a corporate team to support its business activities and generate income to meet the growth target this year.