The National Credit Bureau (NCB) is in talks with a local research house about starting a debt default report as part of the country's second financial sector master plan.
President Surapol Opasatien said the quarterly report is expected to begin next year through a partnership with a research company, a subsidiary of a large local bank.
The report is part of the state agency's role of reporting financial statistics to benefit society overall.
"The move will help remind Thais about debt creation amid the changing financial behaviour of Thai people as the pace of life quickens," said Mr Surapol.
NCB has seen strong signs of consumer financial demand, mirroring the findings of the National Economic and Social Development Board and the Bank of Thailand.
Household debt is rising, especially for lower-income people who earn less than 15,000 baht a month.
While not significant compared with the country's total outstanding debt, households adding more and more debt should still be cause for concern, said Mr Surapol.
As of September, 1 million of the country's 12 million personal finance accounts were classified as non-performing loans (NPLs), up 10% year-on-year.
Credit card loans fared better, with 460,000 cards out of 15 million classified as NPLs, thanks to stronger risk management. Card providers normally suspend late-payment accounts to control bad debt.
Mr Surapol said 17.5 million accounts underwent credit record checking with NCB in the first 10 months of the year, with 12 million belonging to new customers.
Credit checks for the full year are expected to equal or surpass last year's total of 19 million accounts. Loan applications in the first 10 months totalled 1.2 million, of which 30-40% received approval from financial institutions.
About the author
- Writer: Somruedi Banchongduang
Position: Business Reporter