The traffic may have eased a little in Bangkok since the crash, but there is still gridlock in Thailand’s banking system.
The banks are stuck with a mountain of non-performing loans they would dearly love to offload, and there are plenty of buyers prepared to snap up bargains at attractive discounts.
The problem, as ever, is price.
DBS Thai Danu Bank recently offloaded distressed assets with a nominal value of Bt31 billion ($756 million), selling them for a mere Bt8 billion – a 74% discount to face value.
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