Thailand's August loans edged up by a tad 1.1% to Bt95.7b

Will 4Q be stronger?

According to Maybank Kim Eng, August loans grew well, while 4Q is normally the peak season for loans. The mega infrastructure investment will remain a key driver for demand for loans next year.

Banking stock prices slumped and now offers a good chance to accumulate the stock for long-term investment.

Here's more from Maybank Kim Eng:

In August, loans grew by Bt95.7b or 1.1% MoM (6.8% YTD), led by BAY (+3.4%), BBL (+1.7%), KBANK (+1.4%), and TISCO (+1.1%).

TCAP was the only bank posting a slight loan contraction. We have seen growth across all our segments, especially corporate, while auto HP fell back to the normal growth rate.

We expect more robust growth in 4Q due to seasonal demand. Thus, we are likely to achieve our projected loan growth of 11.7% this year.

With public and private investments continue to remain a key driver, we expect growth momentum for loans to continue into next year

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