BURIRAM 20 May 2014 — The Bank for Agriculture and Agricultural Co-operatives (BAAC) in Buriram has reported at least 800 million baht in non-performing loans (NPLs).
According to the Buriram’s BAAC credit department, the bank has accumulated more than 800 million baht worth of NPLs after allowing local farmers to take out loans to fund their agricultural activities. Reports indicate that the bank has a total of 120,000 members.
The bank has made 2 billion baht worth of loan to farmers in the region, 800 baht of which has now been considered non-performing loans. The main reason for farmers not being able to repay the debt is that the area has been hit by natural disasters such as floods and drought.
Director general of the Buriam BAAC Kan Ratanasakulchart stated that the bank has dispatched officials to look in to the matter and assist those who are having trouble paying back the loan on time, as well as providing them with financial consultations.
