Page 64 - BAM ONE REPORT 2565 (ENGLISH VERSION)

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Description As at Sep 2021 As at Sep 2022 Change rate

Total assets (million Baht) 254,616 271,667 6.70%
Bangkok Commercial Asset Management Public Co., Ltd.
Total liabilities (million Baht) 173,191 182,660 5.47%

Total equity (million Baht) 81,425 89,007 9.31%

Net profit (loss) (million Baht) 3,839 4,182 8.93%

Source: Bank of Thailand and Calculation

According to the above information, total assets of asset management companies grew by 6.70% in tandem with
the economy that has not yet fully recovered and accordingly led NPLs in the system to remain high despite its decline
to 5.29% as of September 2022. Therefore, financial institutions have put up their NPLs for auction in a bid to reduce
the required provisioning amount to better their operational performance figures amid the prevailing economic volatility.
Against this backdrop, NPLs will continue to be offered for sale in the market and asset management companies
relatively see the opportunity to broaden and strengthen their business base since NPLs will be offered at reasonable
prices that could generate a good business performance for them in the future. As such, asset management companies
have participated in the bidding for those NPLs for further management, leading to the growth of total assets in this
business sector. The overall asset management company business expanded in 2022, posting a net profit of Baht 4,182
million, an increase by 8.93% from the net profit of Baht 3,839 million recorded as of September 2021. This was
attributed to the improving economy since the country’s re-opening upon the labelling of the COVID-19 as an endemic
disease, hence raising the general public’s income generation and enabling the overall asset management business to
improve operational performance.

Product or service supply
The Company seeks opportunity to purchase the NPLs and NPAs from the domestic financial institutions
regularly. Mostly, the Company purchases NPLs through bidding, and sometimes, the Company acquires NPLs from the
financial institutions directly. The Company also acquire NPAs through bidding the collaterals of NPLs managed by the
Company from the debtors transferring the collaterals/ repayment properties, and purchasing NPAs from the financial
institutions in form of bidding or direct purchase from the financial institutions.

Non-delivered work
- None -