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Sunday, September 19, 2021

GSB Launches Measure to Curb Non-performing Loans

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BANGKOK (NNT) – State-owned Government Savings Bank (GSB) has rolled out a measure to curb existing debts from turning bad, offering a suspension of the repayment of principal and a partial amount of interest.

GSB president and chief executive Vitai Ratanakorn said the aid measure aims to help relieve the burden of the bank’s debtors hit hard by the pandemic, and will be applicable to debtors who start failing to repay the debt as of Feb 28.

The measure will help sustain the debtor’s status and prevent them from becoming non-performing loans which will damage their credit records, making them unable to secure loans in the future from financial institutions.

Mr Vitai said under the relief plan, the bank will offer suspension only of the principal repayment with intact interest repayment for the majority of debtors.

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