BAY clamps down on NPLs, lays plans for 'mini boom' | Bangkok Post: business

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BAY clamps down on NPLs, lays plans for 'mini boom'

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Bank of Ayudhya (BAY) expects to maintain its stringent loan requirements, especially for unsecured loans, over the next 6-12 months to prevent non-performing loans (NPLs) from rising further. 

Thailand's fifth-biggest lender has tightened approvals for unsecured loans including credit cards and personal loans in order to cope with the sluggish economy and surging household debt amid prolonged political uncertainty, president Philip Tan said.

What he calls "prudent management" is aimed at retaining BAY's asset quality as consumer NPLs increase.

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