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Siam Commercial Bank easing lending terms, sets 90 billion baht goal

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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.

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.

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Banking

Thai Baht currency control mulled by central bank

The Industry Minister proposed measures to help business owners, such as the promotion of Thai Baht as a currency for international trade to reduce the risks from US Dollar currency fluctuation

National News Bureau of Thailand

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BANGKOK, 15th August 2019 (NNT) – The Minister of Industry has held talks with the Bank of Thailand’s Governor over measures to control the fluctuation of Thai Baht currency, minimize impacts faced by SMEs and promote the import of machinery during this time to take advantage of the stronger currency.

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Banking

Thailand’s dangerous debt addiction

Thailand is now a top-ten highest household debt country among 89 countries worldwide and third highest among 29 Asian countries.

Olivier Languepin

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Thailand’s household debt has steadily increased to 78.6% of the country’s gross domestic products (GDP), or Bt12.8 trillion in the fourth quarter of last year, according to figures from the National Economic and Social Development Council.

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Banking

Thailand’s four challenges : Debt, inequality, plastics and climate change

Thais tended to get into debt faster, for longer and for higher amounts. Indebtedness starts as soon as they begin to work at age 25 and can increase until 56 years old.

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Bank of Thailand Governor Veerathai Santiprabhob, in his speech entitled “Formulating for the Future of Corporate Governance”, delivered at the Finance and Beyond National Director Conference 2019 in Bangkok (July 24th), said Thailand faces four challenges that require good governance in businesses to address.

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