Bangkok Bank to register slower loan growth in 1H

On weaker private investment demand.

According to Maybank Kim eng, it sees the weak outlook for Bangkok Bank's loan growth in 1H14 due to the weak demand in private investment from the political tension. Maybank expects only mild recovery on Thai exports due to a slowdown in China's economy which is Thailand’s main export destination.

Here's more:

This would directly affect loan growth on corporate and SME segments. The delayed appointment of a new Board of Investment (BOI) is a major stumbling block for Thailand in luring new foreign direct investment. Large-scale public investments of at least THB100m have been postponed until a new government is set up.

The value of BOI applications submitted has dropped 58% YoY to THB63bn in 2M14 (see details in BOI applications at 60%; Two estates created, 11 March). Loan growth should grow at faster rate in 2H14 assuming there will be a functional government.

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