Author Topic: Bounced checks rise to highest in 20 months  (Read 609 times)

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Offline thaiga

Bounced checks rise to highest in 20 months
« on: February 24, 2014, 04:33:15 PM »
The Bank of Thailand said today that the number of bounced checks involving over 12.3 billion baht rose to over 76,600 checks, the highest in 20 months.

The central bank said that by January this year there are altogether 6.38 million checks in the banking system, up 12.16% as compared with the same period last year with total value of 3.2 trillion baht, or a decline of 98.4 billion baht.

But it said among the total checks in the system, there are 76,600 bounced checks, 15.06% or 10,000 checks higher than the same period .

The bounced checks worth altogether 12.3 billion baht, 20.35% or 2.07 billion baht higher than the same period last year, the highest in the past 20 months.

It said more than half or 40,800 bounced checks were issued by issuers in Bangkok and adjacent provinces with total value of 8.45 billion baht.

These bounced checks were expected to be issued by small and medium sized enterprises (SMEs) which are running short of liquidity as the result of falling sales, cautious spending by households and stricter loan extension by commercial banks.

thaipbs.or.th
Anyone who goes to a psychiatrist should have his head examined.
 

Offline thaiga

Re: Central bank says bounced checks jump not a worry yet
« Reply #1 on: February 28, 2014, 03:35:29 PM »
The Bank of Thailand (BoT) reported a total of 76,600 bounced checks in January, with the total value of over 12 billion baht.

But it said the rise in bounced check was not yet a worry.

BoT Spokesperson Rung Mallikamas on Thursday said many businesses are running short of liquidity but the problem  has not reached critical stage.

She reported that the number of bounced checks in January rose to over 76,600 checks, up 15 percent year-on-year, while the bounced checks worth altogether 12.3 billion baht, about 20 percent higher than the same period last year. She urged the public not to worry  as the number  of bounced checks covers only 0.3 percent among the total checks in the whole banking system.

Meanwhile TMB Economic Research Center also  reported that businesses most likely affected by political turmoil are those suffering  cash flow and high interest burden namely tourism, furniture and real estate industries.

Garment businesses which have to rely on domestic sales should also be on a look out. Risk-prone industries could solve the problems by moving their businesses away from the protest sites, while seeking extension of payment term with the bank, it said

thaipbs.or.th
Anyone who goes to a psychiatrist should have his head examined.
 

 



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