Bangkok--9 Apr--SCB Siam Commercial Bank successfully organized Non-Performing Loans (NPLs) auction to interested investors in Q1/2008 with sales worth more than 8 billion Baht. The two companies winning the auction are Morgan Stanley and Alpha Capital Asset Management Co.,Ltd. Both companies are widely recognized as experts in solving NPL problems. The agreement signing ceremony was arranged at end of March 2008. Siam Commercial Bank’s President Mrs. Kannikar Chalitaporn disclosed that the NPLs auction is one of the Bank’s strategic efforts to expedite the reduction of NPLs. The Bank also expects a successful outcome of another NPLs auction in later part of the year, as this first auction was well received by investors. Note that Siam Commercial Bank’s NPLs level was decreased from 7.9% in 2006 to 6.1% in 2007 respectively. The continued effort in NPLs auction together with other strategic efforts is expected to push the NPLs of the Bank to reach the target of 5% or lower by the end of 2008