Several banks also established asset management companies, a move which the central bank has encouraged as a means of dealing with bad debts while allowing the parent bank to focus on new lending. Assets at the Thonburi AMC would be managed by Alpha Capital. Chantaburi AMC, meanwhile, will oversee assets from defunct Thai Farmers subsidiary Phatra Thanakit. To date, Thai Farmers has been able to restructure debt worth 155 billion baht, with another 79 billion remaining. Bangkok Bank has set up an asset management firm.
Plans call for the fully-owned subsidiary to oversee assets foreclosed from delinquent borrowers.
Siam Commercial Bank's own Chatuchak AMC will take over debt worth 30 billion baht. The firm is negotiating with foreign institutions to jointly manage the assets.