BAAC has suspended debts of more than 700,000 farmers.

Bangkok, Manager BAAC reveals measures to suspend debt payments For retail customers whose principal remains in debt for all contracts totaling no more than 300,000 baht, from October 2023 until today, BAAC has implemented debt suspension for more than 700,000 farmers. Mr. Chatchai Sirilai, Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), said that the implementation of the debt moratorium measures For retail customers who still owe no more than 300,000 baht on all contracts, from October 2023 until today, BAAC has implemented debt suspension for over 700,000 farmers, with approximately 990,000 remaining. It is expected that it is in progress. Because the documents requesting verification of rights have already been submitted. It is believed that during the remaining period, it is expected to be carried out as targeted. As for the BAAC's debt management, at present the BAAC's NPLs debtors are at 5.3 percent, which is continuously decreasing. We aim for the end of fiscal year 2023 i n March to have NPL debt no more than 5.5 percent, with the rest now falling below the target. and is expected to remain below 5 percent, so in the next goal In determining debt, NPLs must remain less than 4 percent. However, BAAC places importance on the sustainability of debt management. Solving the NPL debt problem is not about pushing the burden forward. It must be a solution to give customers better payment potential. Sustainable debt management However, in the first quarter of fiscal year 2023 (1 April - 31 December 2023), the BAAC has supported loans to stimulate and develop the economy in the rural sector during the year in the amount of 614,131 million baht. Source: Thai News Agency