Banking
Government Housing Bank of Thailand reports $46.5 million profit in Q1
The Government Housing Bank (GH Bank) has generated 1.49 billion THB in net profit for the first quarter of 2010 out of the year-round target of 5.27 billion THB.
According to GH Bank President Khan Prachuabmoh, the bank enjoyed total credit extension of 25.59 billion THB in the first quarter of this year as the net profit amounted to 1.49 billion THB. The bank saw 550 billion THB in deposits while its non-performing loan (NPL) stood at 8.92%, a decrease from 10.51%.
The GH Bank’s high profit and healthy credit extension resulted from the government's tax reduction policy to assist the property sector.
via GH Bank gains 1.49 bn THB in profit in Q1 : National News Bureau of Thailand.
In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes.
Asean
12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)
The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.
Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.
Banking
Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses
Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.
The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.
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