Thailand’s loans gaining momentum
(27 September 2013 – Thailand) Mega infrastructure investment in Thailand has been, and will remain a key driver for demand for loans next year.
According to Maybank Kim Eng, August loans grew well, while the fourth quarter is normally the peak season for loans.
“In August, loans grew by Bt95.7 billion (A$3.26 billion) or 1.1 percent month-on-month (6.8 percent YTD), led by BAY (+3.4 percent), BBL (+1.7 percent), KBANK (+1.4 percent), and TISCO (+1.1 percent).
“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 percent this year,” Maybank Kim Eng said.
“With public and private investments continuing to remain a key driver, we expect growth momentum for loans to continue into next year.”