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.
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.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.(more…)
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