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Government Housing Bank of Thailand reports $46.5 million profit in Q1

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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.

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