Krung Thai Bank lends almost $880M in 5 months

KTB injected money through loans to over 40,000 retail clients with credit line of US$30 million, enabling total personal loans to grow to US$8.8 billion.

According to a Krung Thai Bank statement, it made the loans to help boost the economy.

Dr. Anuchit Anuchitanukul, Senior Executive Vice President, Managing Director, Products and Market Management Group, Krung Thai Bank PCL revealed that in the past five months, the Bank has expedited loans to clients in all sectors to stimulate the economy and to boost and increase liquidity.

As a result, the Bank’s total personal loans rose to US$8.8 billion or 7 percent growth compared to the previous year-end. The Bank anticipates that, by the end of this year, the bank will be able to increase personal loans by more than US$1.76 – 2.05 billion.

"In spite of economic recession, the demand for loans for consumption purpose is still high, especially for housing loans of which the Bank is ranked second in market share with growth rate of 3 percent. Apart from housing loans in the Bank’s main portfolio of retail loans, the Bank offers KTB Thanawat loans, lending in the form of revolving credit line for clients holding Krung Thai account for their salary payment at a very low interest rate of only 9.875 percent per annum as well as welfare loans to government officials, state enterprise officers and permanent employees," said Anuchitanukul.