Thailand's Household Debt Woes Deepen as Fragile Borrowers Struggle

Thailand ranks highest globally in terms of fragile borrowers, with 11% of borrowers in debt assistance programs. This compares to 1-5% in other Asian countries.

Thailand's household debt-to-GDP ratio tallied 90.9% in Q3 2022 and is expected to increase further.

Non-performing loans (NPLs) of overall banking sector decreased slightly to 2.66% in Q4 2022, but NPLs rose for consumer loans including mortgages, auto loans, and credit cards.

Bank of Thailand expects housing loan NPLs to continue rising in Q1 2023, driven by low-income borrowers.

Bank of Thailand investigating case of bank employee stealing and selling data of over 5,000 customers.