BAM First-Half Earnings Rebound, Collections Hit 6.5 Billion Baht

Bangkok Asset Management reported second-quarter collections of 3.513 billion baht, up 16% from the first quarter's 3.026 billion baht, bringing first-half total collections to 6.539 billion baht. Second-quarter profit reached 234 million baht, up 8% from the first quarter's 217 million baht, for a first-half total profit of 451 million baht. Lakshya Vorkitpokatat, chief executive of Bangkok Asset Management, said the company is building a resilient business model that does not depend on large single collections but focuses on continuous cash flow from routine operations through the TDR Factory, proactive NPA management, selective debt purchases, and joint-venture AMCs. BAM is prioritizing financial rehabilitation of small debtors over collection pressure, operating the "Fresh Start with BAM" program that offers debt restructuring tailored to borrowers' repayment capacity. The program has so far approved 149 million baht in relief. The company has expanded cooperation with government and state enterprises through the "Public Assets Plus" initiative, which makes housing affordable for vulnerable groups, resulting in 1,775 property sales. BAM is also pursuing business partnerships that select NPA assets—single houses, commercial buildings, condominiums, and land—to present to real estate developers who can enhance value and transform idle property into productive assets. In the second quarter, BAM received 30 million baht in dividends and recognized 28 million baht in profit share from joint-venture AMCs, an asset-light growth mechanism that allows the company to manage assets without holding the full portfolio while generating returns through profit shares and dividends. For the second half of 2025, Vorkitpokatat said BAM will accelerate all three income engines—NPL, NPA, and joint-venture AMC—simultaneously to increase collections, diversify cash flow, and improve profit quality.