Thai Islamic Bank asserts financial strength despite soaring NPLs

A senior Islamic Bank of Thailand (IBank) executive has affirmed that the bank’s financial status and liquidity are normal despite its non-performing loans (NPLs) at Bt39 billion, 20 per cent of its total lending. Thanin Angsuwarangsi, IBank manager, said Bt24.3 billion debts are being negotiated by the bank and debtors and the majority are willing to discuss debt resolution on the NPLs with the bank. After a restructuring of IBank’s role, it will emphasise giving loans to Muslim Thai people and small-time business operators. Mr Thanin believed the problem of Bt39 billion NPLs will be solved in three years, adding that IBank officers who are found to unscrupulously offer loans to customers will be legally dealt with.