BAAC moves forward to solve bad debts for farmers past 100 billion baht
Date 26 Apr 2022 time 19:28
BAAC proceeds to solve the problem of debt in the farmer’s household sector that has lost more than 100 billion baht. Don’t underestimate the reserve for bad debts of 4 hundred billion baht.
Mr. Thanarat Ngamwalairat, Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC) revealed the operating results of the fiscal year 2021 (1 April 2021 to 31 March 2022) that the BAAC has supported 667,971 million loans. baht, resulting in accumulated credit balance of 1,606,289 million baht, an increase of 35,485 million baht or 2.26% from the beginning of the fiscal year.
While accumulated deposits were 1,901,801 baht, an increase of 120,329 million baht from the beginning of the fiscal year, or 6.75%, had assets of 2,236,358 million baht, an increase of 5.73%, total liabilities were 2,086,632 million baht, an increase of 6%.
BAAC has a total operating income of 98,610 million baht, total expenses of 91,031 million baht and a net profit of 7,579 million baht.
while NPLs stood at 6.63 percent, or about 106 billion baht, with a capital adequacy ratio (BIS) of 12.43 percent, higher than the limit set by the Bank of Thailand (BOT). Bad debt is up to 400%, or about 400 billion baht, which makes the bank’s position stable. Support for many more impacts
In the fiscal year 2022 (April 1, 2022 – March 31, 2023), the BAAC has set a target for loan growth of more than 30 billion baht, deposits growing by more than 10,000 million baht and NPLs / Loan at 4.50 percent or approximately 7.22 billion baht, which admits that it is not easy Because now Thailand has a high household debt problem. This will affect the bank’s farmers’ bad debts to increase.
“This past year was another difficult year for farmers. due to The spread of the COVID-19 virus, natural disasters, as well as conflicts between Russia and Ukraine that affect the country’s economy as a whole, which the BAAC is ready to stand by and be part of the solution. problem to us Let’s walk and grow together with stability and sustainability, as the BAAC’s determination to create Better Life, Better Community, and Better Pride in order to elevate the lives of Thai farmers to a proud society,” said Mr. Thanarat.
