BAM Offers Three-Month Debt Moratorium for Bangkok Flood Victims

BAM is urgently surveying customers affected by flooding across Bangkok and its surrounding provinces, covering both debt restructuring clients and installment property buyers. The company is offering a three-month payment suspension tailored to each customer's circumstances to ease financial burdens during recovery.

On September 28, Rak Vorakitphokamart, Chief Executive Officer of Bangkok Bank Asset Management Public Company Limited (BAM), announced that the widespread flooding has caused significant damage to homes, businesses, and people's livelihoods across the capital and its periphery. BAM is expediting data collection on affected customers to provide swift and appropriate assistance. The survey covers both customers undergoing debt restructuring and those purchasing BAM properties on installment, with assessments evaluating damage to homes, workplaces, and ability to maintain normal daily life before tailored support measures are determined.

For affected customers, BAM has implemented a three-month debt payment suspension to reduce financial strain during property repairs, business recovery, and family support. Help will be assessed individually based on damage level and hardship. "During times of difficulty, the most important thing is giving everyone time and opportunity to rebuild. BAM is therefore implementing a three-month payment suspension to ease the financial burden and to stand with our customers as they overcome this crisis," Rak said.