New Thai Finance Minister to establish an AMC

In an attempt to assist Thai banks still recovering from the Asian financial crisis, the newly-appointed Thai Finance Minister has promised the establishment of an AMC.
February 20, 2001
Newly appointed Thai Finance Minister Somkid Jatusipitak Dr Somkid has promised that the government will definitely establish an asset management company AMC this year and will hold a meeting this weekend with bankers and government officials to thrash out details.

The AMC will purchase non-performing loans NPLs from Thai banks still reeling from the 1997-1998 financial crisis. As a result, banks will have cleaner balance sheets allowing them to start lending again, hopefully, this time to quality borrowers.

Following the Asian financial crisis, South Korea, Indonesia, and Malaysia established their own AMCs specifically to support the banking sector.

In a related development, Dr. Somkid has said he will initiate measures to stimulate...

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