Bangkok Commercial Asset Management Public Company Limited
Bangkok Commercial Asset Management Public Company Limited operates as an asset management company in Thailand. The company operates through Non-Performing Loans (NPLs); and Non-Performing Assets (NPAs) and Investments in Securities segments. It purchases or transfers NPLs and NPAs for management or for further disposal or transfer. Th company also acquires and transfers NPLs from financial institutions to manage through debt negotiation practices. In addition, it is involved in the acquisition and transfer of NPAs from financial institutions; transfers of assets from debt settlement; and purchase of collateral at auction from the legal execution department with an emphasis on adding value. The company was founded in 1998 and is headquartered in Bangkok, Thailand.
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BAM grants 3-month debt moratorium to help flood-affected customers in Nan
Bangkok Commercial Asset Management Public Company Limited, or BAM, has introduced a three-month debt repayment suspension for customers affected by the flooding in Nan province. Chief Executive Officer Dr. Rak Worakijpokathorn said BAM has instructed its local offices to urgently survey and compile information on affected customers, covering both customers undergoing debt restructuring and customers purchasing BAM properties for sale on an installment basis, in order to assess the extent of damage and hardship related to housing, places of work, and the ability to carry on normal daily life. The information will then be submitted to headquarters for urgent consideration of assistance. Assistance will be considered on a case-by-case basis according to the level of impact and hardship faced by each customer, so that it is appropriate to the situation and needs.
BAM reports second quarter collections up 16%, lifting profit 8%
Bangkok Commercial Asset Management Public Company Limited, or BAM, reported second quarter 2569 collections of 3.513 billion baht, up 16% from 3.026 billion baht in the first quarter, bringing first half collections to 6.539 billion baht. Second quarter 2569 profit was 234 million baht, up 8% from 217 million baht in the first quarter, making first half profit 451 million baht. Chief Executive Officer Dr. Rak Worakijpokathorn said BAM is focused on building a resilient business model that does not rely on large one-off collections, but emphasizes cash flow from normal operations through its TDR Factory, proactive NPA management, selective debt purchases, and using joint venture asset management companies as a new growth engine. In the second quarter of 2569, BAM received dividends of 30 million baht and recognized profit sharing of 28 million baht from ARI AMC and ARUN AMC respectively. For the second half of 2569, BAM will accelerate all three revenue engines, namely NPL, NPA, and joint venture asset management companies, to work simultaneously in order to increase collections, diversify cash flow, and improve earnings quality.
BAM champions AI to revive impaired assets into economic value
Bangkok Commercial Asset Management Public Company Limited, or BAM, has outlined how it is applying artificial intelligence, or AI, to upgrade asset management, from resolving debt and rehabilitating debtors to reviving idle assets so they can create value and circulate in the economy again. Dr. Rak Worakijpokathorn, Chief Executive Officer of BAM, said at a seminar on AI and economic momentum that AI makes work faster, more accurate, and more insightful, from debt screening and analyzing debtor potential to property valuation and matching assets with the right buyers, helping money, debt, and assets return to the economic system more quickly. BAM will move from a one-size-fits-all approach to personalized solutions by using data analysis to design remedies suited to each debtor. The key challenge should not stop at analyzing who is risky, but must look deeper at who still has potential, so that debt restructuring can help viable debtors get back on their feet. In asset management, AI can be used to analyze location, value, demand, and buyer behavior to improve accuracy in bringing properties back to market, create asset velocity, and turn dead assets into economic value, because the faster assets re-enter the system, the faster capital and economic activity can circulate again. BAM is also building on its BAM Opportunity Score concept to use data and technology to assess customers' potential and ability to resume repayment, rather than using scores merely to classify risk or deny opportunity. In the future, AI may no longer be just an option but a means of survival, and may be like an express train that must be caught in time to help revive zombie firms, awaken dormant assets, and turn what was once stagnant back into motion, creating jobs, income, and economic value once again.
Bualuang sees Q2 stock profits up 13%, recommends continued recovery in H2
Bualuang Securities said net profit of stocks under its coverage in the second quarter of 2026 rose 13% from a year earlier and 12% from the previous quarter, coming in 10% above market expectations and 11% above the company's estimates. Revenue was only 2% above market expectations, reflecting support from higher energy prices and petrochemical spreads, revenue and ARPU in the communications sector, electronics demand, and cost management in the retail sector. Pressure still came from lower meat prices, weak Cambodian and self-pay patients, and higher energy costs in the transport sector. Sectors with standout core profit growth included energy and petrochemicals, electronics, communications, retail, and hotels. Sectors with the main profit declines remained agriculture and food, hospitals, and transport. Although the overall results beat expectations, market expectations are starting to return to a more balanced level, with the proportion of stocks beating profit estimates at 48%, compared with 59% in the previous quarter, but still above the five-year average of 37%. The beat-to-miss ratio was 3.4 times, down from 6.8 times in the previous quarter, but still above the five-year average of 1.1 times. Stocks with profits notably above market expectations included AOT, SCC, PTTGC, and PTT, while DELTA came in below expectations. On the revenue side, only the petrochemical sector clearly beat expectations, while WHA and BAM came in below. The company assesses a mid-2027 SET target of 1,650 points in the base case and 1,710 points in the best case. But with the beat-to-miss ratio starting to decline, it recommends focusing on selective plays in stocks whose earnings are likely to continue recovering in the second half of 2026. These include CBG, whose earnings are expected to have passed their trough in the second quarter of 2026 before returning to year-on-year growth from the third quarter; BH, supported by recovering Thai and Middle Eastern patients, with third-quarter profit expected to grow both year-on-year and quarter-on-quarter; and tourism plays AOT, ERW, and CENTEL, after foreign tourist arrivals in July stood at 2.5 million, down 2.5% from a year earlier, but the average daily number rose 16% from the previous month, while Thai hotel RevPAR is expected to grow both year-on-year and month-on-month.
BAM discusses with 4 international partners, roadshows $100 million in NPA
Bangkok Commercial Asset Management Public Company Limited, or BAM, is expanding its international partner network through discussions with senior executives from four leading organizations in the asset management and debt management business during the 10th IPAF Summit and Conference in Astana, Republic of Kazakhstan. They include Zhejiang Zheshang Asset Management from China, Collectius, Korea Asset Management Corporation, or KAMCO, from South Korea, and Vietnam Asset Management Company, or VAMC, from Vietnam, to explore cooperation opportunities in managing non-performing assets and properties for sale, applying technology and data, and exchanging international knowledge. At the same time, BAM brought high-potential NPA assets worth approximately 100 million US dollars, equivalent to several billion baht, to a roadshow at the Investment Forum on August 13, 2026, to reach foreign institutional investors. The properties presented include condominium projects in central Bangkok, vacant land on an island in Phuket province, and hotels on Koh Chang and Koh Kood, which can be further developed into hotel, resort and hospitality services businesses.
Bualuang highlights JMT, MINT, BAM, KCE, MTC after analyst meetings
Bualuang Securities released analysis on JMT, MINT, BAM, KCE and MTC following analyst meetings. JMT expects cash collections in the third quarter of 2026 to recover both year on year and quarter on quarter after seeing improvement since May, supported by collections from new debt purchased in the first quarter. The research team therefore recommends buying MINT, maintaining its profit growth target of 15 to 20 percent per year during 2026 to 2028 and net debt to equity of 0.75 to 0.85 times, while keeping plans for a food IPO and asset sales. BAM still targets 2026 net profit of 2 billion baht, up 10 percent year on year, but the research team sees the slow economic recovery pressuring that target and recommends sell. KCE expects third quarter 2026 revenue to grow 13 to 15 percent quarter on quarter with a gross margin of 25 percent, with a chance for 2027 profit to exceed 2 billion baht and the share price to break above 50 baht. MTC has cut this year's loan growth target to 8 to 10 percent year on year from 10 to 15 percent previously because of stricter lending after the Middle East conflict, but the research team still recommends buy and expects third quarter 2026 net profit to reach a new high.
BAM joins forces with KAMCO to forge new model for NPL management, aiming to return debtors to the financial system
Bangkok Commercial Asset Management Public Company Limited, or BAM, is set to sign a memorandum of understanding with Korea Asset Management Corporation, or KAMCO, to elevate cooperation on non-performing asset management. The move follows discussions during the IPAF Summit and Conference in Astana, Republic of Kazakhstan. The two organizations will exchange knowledge, experience, and practices in non-performing loan management, and establish a concrete cooperation framework for the future. BAM has also invited KAMCO to join the seminar "Future Ready Economy 2026: Designing Capital for the Future," an official side event of the annual IMF–World Bank Group meetings at Siam Paragon on October 14, 2026. Dr. Rak Worakijpokathorn, Chief Executive Officer of BAM, said this collaboration will allow BAM to learn from an organization with international experience and aim to create the next practice for the AMC industry, focusing on sustainably returning debtors to the financial system.
BAM accelerates three JV AMCs to push BAM Universe portfolio past 600 billion baht
Bangkok Commercial Asset Management Public Company Limited, or BAM, has announced its plan for the second half of 2026 to build a resilient business model, reduce reliance on big-ticket deals, accelerate TDR and the turnover of NPA assets, and establish three additional joint-venture asset management companies. The first of these is expected to become clear as early as the end of the third quarter of 2026, with a target of pushing the total asset portfolio value under BAM Universe beyond 600 billion baht by the end of 2026. Mr. Rak Worakijpokathorn, Chief Executive Officer of BAM, said the company still targets net profit for 2026 of close to 2 billion baht and will expand the new beginning project with BAM to restructure debtor obligations and bring them back into the economic system. It will also build on the public asset programme Plus to accelerate the turnover of NPA assets and expand its customer base. Expanding joint-venture asset management companies with financial institution partners will help increase capacity to absorb and manage NPLs from the financial institution system, without the need to grow solely from assets that BAM invests in and holds itself.
Bualuang Scans Q2 2026 Results; KCE a Standout, Beating Expectations
Bualuang Securities analyzed second-quarter 2026 results for nine listed companies. KCE reported core profit of 242 million baht, 12 percent above market expectations, and raised its 2026 profit forecast by 5 percent. The broker maintained a Trading Buy rating with a target price of 47 baht. IRPC, IVL, PR9, MTC, and SAWAD posted profits in line with expectations, while BAM, JMT, and BTG reported weaker-than-expected earnings. BTG had its 2026 profit forecast cut by 9.7 percent and its target price lowered to 23.40 baht from 26 baht.
KGI says BAM first-half 2026 results below expectations, set to revise forecasts
KGI Securities stated that second-quarter 2026 results at Bangkok Commercial Asset Management, or BAM, remained weak, with net profit of 234 million baht, up 8 percent quarter-on-quarter but down 82 percent year-on-year. First-half net profit was 451 million baht, down 70 percent from the same period last year. Second-quarter cash collections were 3.5 billion baht, down 25 percent quarter-on-quarter and down 50 percent year-on-year, while first-half cash collections were 6.5 billion baht, down 36 percent, still far from the full-year 2026 target of 17.9 billion baht. Operating expenses rose 8 percent quarter-on-quarter even though revenue did not increase. The research team is reviewing its profit forecasts and target price because first-half net profit accounted for only 26 percent of its full-year profit estimate.
BAM accelerates in second half, restructuring debt and selling NPAs to hit revenue target of 17.9 billion baht
BAM has announced its plan for the second half of 2026, accelerating debt restructuring and the sale of non-performing assets to achieve its revenue target of 17.9 billion baht. Dr. Rak Worakijpokathorn, Chief Executive Officer, revealed during a visit to the Phuket office that first-half performance is on track, and has tasked the team with urgently resolving non-performing loans before they become NPAs, using the "Fresh Start with BAM" program and the "Cost Plus Framework Fast Debt Closure" model to restructure debt according to each debtor's capacity. On the NPA sales front, the focus is on facilitating property viewings outside regular hours and on holidays, collaborating with brokers and partners, and setting prices based on actual market prices rather than sticking to old appraisals, while upgrading processes with service level agreement timelines from account transfer to legal action. Additionally, BAM is building a knowledge transfer system from senior to junior staff to reduce reliance on a few individuals. Phuket is also a strategic location with over 400 rai of high-potential NPA properties in Karon, Kamala, and near tourist areas, where BAM aims to make the Phuket office a model branch in the future.
BAM expects profit to accelerate in the second half of 2026, target price 9 baht
Yuanta Securities expects net profit of Bangkok Commercial Asset Management, or BAM, to accelerate markedly in the second half of 2026. It forecasts second-quarter 2026 net profit at 263 million baht, down 79.7 percent from a year earlier but up 21.2 percent from the previous quarter, supported by net interest income expected to rise 10.6 percent quarter-on-quarter and non-interest income expected to grow 13.6 percent from recovering sales of NPL and NPA assets, although provisioning is set to increase 12.9 percent from the prior quarter partly to cover a large bad-debt purchase from SCB worth around 6 billion baht. The research team maintains its full-year 2026 net profit forecast at 1.655 billion baht, down 8.7 percent from the previous year, and keeps a buy recommendation with a 2027 target price of 9 baht per share, implying 29.5 percent upside and an expected dividend yield of 6.6 percent.
BAM buys over ten billion baht in bad debt in first half, eyes three more major deals
Bangkok Commercial Asset Management Public Company Limited, or BAM, purchased more than ten billion baht in non-performing loans in the first half of 2026 from six leading financial institutions. One of those transactions was an exclusive big lot purchase from Siam Commercial Bank. Dr. Rak Worakijpokathorn, Chief Executive Officer, revealed that BAM is in talks to acquire three more large non-performing loan portfolios worth a combined total of approximately five billion baht. These are expected to generate returns of more than 15 percent within this year and will support performance growth in line with targets. The company is also applying a cost-plus model to restructure debt so that borrowers can recover more quickly.