Siam Commercial Bank has set a new loan target of between 80 billion and 90 billion baht for 2010, and has eased lending conditions in line with the improving economy.

SCB president Kannikar Chalitaporn discusses the outlook at a briefing yesterday.

Bank president Kannikar Chalitaporn said the bank aimed for loan growth of 7% to 10% this year, based on an economic growth forecast of 3.5% to 4.5%.

SCB's corporate banking business is expected to show significant growth of 11% to 14% this year from a portfolio of 320 billion baht at the end of December.

news 03
Siam Commercial Bank

Small and medium-sized business lending, which totalled 130 billion baht at the end of 2009, is projected to grow 4.7% this year. Consumer finance is expected to grow 6% to 10% this year from its portfolio of 300 billion at the end of December.

SCB, which tightened its lending criteria since late 2008 in response to the global crisis, will now ease loan terms in light of the economic recovery.

via SCB easing lending terms, sets B90bn goal.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

Bank of Thailand Lowers Growth Projection for 2023 to 3.6%

The Bank of Thailand has reduced its growth projection for 2023 due to lower-than-expected GDP and inflation rates.

BOT Maintains 2023 GDP Forecast at 3.6%

The Thai economy is expected to continue expanding, driven mainly by recovery in the tourism sector, which should, in turn, boost labor income and private consumption.

Taming Thai Household debt

The central bank has also set a goal of reducing Thai household debt to less than 80% of GDP to reduce financial and economic risks. As of the fourth quarter of last year, household debt stood at 15.1 trillion baht, accounting for 86.9% of GDP.