IBank targets fewer NPLs

Islamic Bank of Thailand booth at a Money expo.

The Islamic Bank of Thailand (IBank) aims to reduce its non-performing loans (NPLs) to 8 billion baht this year, from the current level of 13 billion baht, by helping its major corporate customers restructure their debt, says the bank's president Thaweelap Rittapirom.

He said the bank had total outstanding loans of 62 billion baht last year, of which 20%, or 13 billion baht, were NPLs.