As most companies turn cautious during the economic slowdown, debt collectors are going full throttle to capitalise on bad loans clogging financial institutions' balance sheets.
JMT Network Services, an SET¬listed debt collector, aims to raise outstanding non¬performing loans (NPLs) under management to 100 billion baht at the end of this year from the current 72 billion before growing to 200¬300 billion in the next few years, said chief executive Piya Pong¬acha.
A surge in delinquent loans at financial institutions is expected to drive JMT's portfolio growth. And while bad loans are still minimal when compared with total credit, financial institutions want to prevent the problem from snowballing.