Somchai Sujjapongse

Rehab key to IBank capital

The Finance Ministry is supervising and working on a restructuring of The Islamic Bank of Thailand, or IBank. The ministry's approval for a capital increase depends on the success in the restructuring plan, according to Somchai Sujjapongse, the director-general of the Fiscal Policy Office. The bank is pursuing several options to recover debt, including filing court foreclosures or restructuring debt with clients. Mr Somchai stressed that IBank continues to operate normally, particularly retail lending operations, but has tightened underwriting practices for large corporate lending.

Syndicate content