SME Bank offers debt moratorium to SME business

BANGKOK, 29 September 2009 (NNT) – President of the Small and Medium Enterprise Development Bank of Thailand (SME Bank) Mr.Soros Sakornvisava said that the bank would offer debt moratorium to the small and medium enterprises (SME) customers, however they still needed to pay interest.

The Finance Ministry previously assigned the Fiscal Policy Office (FPO) to study the debt moratorium for the SME business, while the bank had already surveyed the borrowers, who had problems and needed debt moratorium from the second quarter of the year.

The President said that the bank currently had non-performing loans (NPL) of 20 billion baht which was expected to decrease to 20-30% within 2-3 years from now.