BAM Targets 600 Billion Baht Portfolio Through Joint Asset Firms
Bangkok Asset Management targets a 600 billion baht portfolio by year-end 2025 through joint-venture partnerships with financial institutions, shifting from reliance on its own assets to building an ecosystem approach while reporting steady
Bangkok Asset Management (BAM), led by CEO Rak Worakitphokathon, reported at an analyst meeting that second-quarter collections reached 3.513 billion baht, up from the prior quarter. First-half 2025 collections totaled 6.539 billion baht with net profit of 451 million baht, signaling steady operational recovery. The company aims to build a resilient business model in the second half by strengthening long-term performance through several key engines: the TDR Factory, selective debt investment, continuous cost-of-funds management, and expansion of joint-venture asset management companies to create quality, diversified revenue streams while reducing dependence on large borrowers.
BAM is accelerating its "Fresh Start with BAM" program, which uses flexible debt restructuring to help debtors return to sustainable economic participation while converting non-performing loans back into steady cash flow. The company is also scaling up its "Public Assets Plus" non-performing asset business to accelerate asset circulation and expand the customer base with easier terms for public access.
A major second-half strategy is expanding joint-venture asset management companies with financial institution partners. BAM plans to establish three additional joint-venture entities, with the first expected in late third quarter 2025. These joint ventures will leverage BAM's expertise in managing non-performing and non-performing assets alongside partner resources, creating revenue and long-term return opportunities without relying solely on assets BAM holds directly.
Combining company assets with those held by joint-venture partners under the "BAM Universe," BAM forecasts its total portfolio will exceed 600 billion baht by year-end 2025. This marks a shift from growth based solely on BAM's own portfolio to building an asset management ecosystem where partners play a central role. BAM targets 2025 net profit near 2 billion baht while strengthening revenue diversification and consistency, reducing big-ticket dependence, accelerating the TDR Factory, speeding non-performing asset sales, and expanding joint-venture partnerships to create multiple revenue engines.
