Credit data after 20 years: How it controls Thailand's economy!

Credit data after 20 years: How it controls Thailand's economy!

On November 24, 2025, the Carlton Hotel in Bangkok was a busy event as the National Credit Bureau Company Limited (NCB) hosted a seminar titled “Credit Data Driving the Thai Economy Over 2 Decades.” From 8:30 a.m. to 4:30 p.m. the central role of credit data in Thailand's economic development was discussed. Dr. Latsamon Attapich, Managing Director of NCB, highlighted the importance of credit data for risk assessment of financial institutions and summarized that such data is essential for a variety of economic policy decisions. That is the key to strengthening the economy, he says Bangkok Today.

The group of participants consisted of various representatives from business, the financial sector and political decision-makers. Together they sat around a table to discuss the future use of credit data and emphasize its importance in creating economic stability. In the last two decades, NCB has weathered several economic crises such as the severe flood of 2011 and the COVID-19 pandemic. These events have inevitably left their mark on household debt, which currently stands at a whopping 16.2 trillion baht - a figure that has a direct impact on economic growth.

Loans and the challenges for debtors

The problems are numerous. Mr. Surapol Opassethiere, Managing Director of NCB, explained at the seminar that the COVID-19 pandemic resulted in an “income shock” that made loan repayments quite difficult. One solution that has been floated is measures to transfer debt of up to 100,000 baht to asset management companies (AMC). These are intended to particularly help 1.6 million of over 3 million debtors who got into difficulties during the pandemic. Debt restructuring, including interest and principal reductions, is also part of the plan. This allows debtors to improve their credit score by moving from a bad credit code to a better one.

An alarming problem has also been identified in the industry: Small and medium-sized enterprises (SMEs) in particular are struggling against a failure rate of 14%, which seriously endangers the economic stability of the entire region. Around 280,000 companies are affected, with a total debt of 300-400 billion baht, like PPTV HD reported.

Financial risks and outlook

But it's not just companies that are being hit hard. Thailand's public finances also face growing risks, according to the National Economic and Social Development Council (NESDC). The country's ability to service its debt is weakening and interest payments could likely exceed 12% of government revenue by 2027. This could result in a downgrade of Thailand's credit rating, which could make borrowing significantly more expensive. These worrying forecasts call for immediate action and the government to allocate more of its budget to repay the main debt.

A smart plan to strengthen the credit data structure and support the debtor economy could be the key to putting Thailand on the right course. As NCB speakers and other experts strongly emphasized at the seminar, such measures are crucial not only to the current economic situation, but also to the future stability and quality of life of citizens in Thailand.