BAM has announced a cut of 0.25% in its MLR to help relieve burdens of its customers undergoing debt restructuring and those buying properties from BAM under an installment payment plan, taking effect as from February 7, 2020.
Mr. Somporn Moonsrikaew, President of Bangkok Commercial Asset Management Plc. (BAM), said that the Company has announced a reduction of 0.25% in its MLR from 6.0% to 5.75% in order to fit with the existing financial condition and align with the Bank of Thailand’s earlier cut of the policy rate.
The said MLR cut by BAM will help to relieve the burdens of its customers undergoing debt restructuring and those buying NPAs from BAM under an installment payment plan. Such reduction of 0.25% in MLR has become effective as from February 7, 2020 onwards.
To further help lessen customer burdens in 2020, BAM has provided its customers with housing collateral and debt restructuring with an outstanding loan of not over Baht 10 million and customers buying properties with installment payments and approved sale price of not over Baht 3 million with a special promotion of 0% interest rate in the first two years, after which interest will be charged at MLR of BAM for the rest of the agreement term.