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138621
Sat, 08/21/2010 - 09:37
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http://m.oananews.org//node/138621
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Loans in banking sector to grow 9% as targeted, says BoT
BANGKOK, Aug 21 – Loans extended by Thailand's commercial banks have increased continuously since early this year and are very likely to grow 9 per cent as targeted, according to the Bank of Thailand (BoT).
BoT Assistant Governor Sorasit Soontornkes said the loans provided by the banks in June expanded 6 per cent year-on-year in tandem with the country’s
economic recovery. Most are extended for working capital rather than new investment.
Given the continued loan growth, he believed the loans for the whole year would expand 9 per cent as many commercial banks had targeted.
Business loans with sound growth potential are for large- and small-and medium-size enterprise (SME) businesses related to exports such as ready-to-wear clothes, IT equipment, electronics and electrical appliances, and farm products.
The property sector continued growing with condominium projects located along the electric train routes remaining attractive to potential homebuyers.
Loans extended in the tourism sector had begun to rise as hotel room occupancies had increased after the political turmoil eased. The government’s policy to encourage tourism through tax deductions had also contributed to tourism recovery.
He said non-performing loans (NPLs) in July rose slightly to 4.9 per cent of the outstanding loans from 4.8 per cent in June in light of the loan growth and the strong economic recovery.
Although the economic and political situations began to improve, he said, commercial banks continued extending loans with caution because external risks still exist and are uncontrollable. (MCOT online news)
BoT Assistant Governor Sorasit Soontornkes said the loans provided by the banks in June expanded 6 per cent year-on-year in tandem with the country’s
economic recovery. Most are extended for working capital rather than new investment.
Given the continued loan growth, he believed the loans for the whole year would expand 9 per cent as many commercial banks had targeted.
Business loans with sound growth potential are for large- and small-and medium-size enterprise (SME) businesses related to exports such as ready-to-wear clothes, IT equipment, electronics and electrical appliances, and farm products.
The property sector continued growing with condominium projects located along the electric train routes remaining attractive to potential homebuyers.
Loans extended in the tourism sector had begun to rise as hotel room occupancies had increased after the political turmoil eased. The government’s policy to encourage tourism through tax deductions had also contributed to tourism recovery.
He said non-performing loans (NPLs) in July rose slightly to 4.9 per cent of the outstanding loans from 4.8 per cent in June in light of the loan growth and the strong economic recovery.
Although the economic and political situations began to improve, he said, commercial banks continued extending loans with caution because external risks still exist and are uncontrollable. (MCOT online news)
