Thailand’s KBank, partners with BAM on new asset management venture

Kasikornbank (KBank) has partnered with Bangkok Commercial Asset Management (BAM) to form a joint venture asset management company (JV-AMC) to manage non-performing loans (NPLs). The JV-AMC, with a registered capital of THB25m (USD741,000) and equal stakes by both firms, is awaiting approval from the Bank of Thailand. The venture will handle KBank’s secured bad debts, including corporate, SME loans, and mortgages. BAM CEO Bundit Anantamongkol said the partners may inject additional funds as needed, with KBank providing liquidity support. The partnership aligns with the Bank of Thailand’s policy to address NPLs and is expected to enhance KBank’s debt collection capabilities and asset quality. KBank’s credit cost was 1.88%, with an NPL ratio of 3.18% as of June.