|
| KBANK Targets 8-10% Growth in SME Lending |
| UPDATE : 10 February 2010 |
Kasikornbank is confident its new lending granted to small and medium firms will expand by around 8 to 10 percent this year following the rebounding economy.
The bank also releases more loan products to facilitate customers' businesses.
In response to a higher competition among commercial banks to gain more customers, particularly small and medium entrepreneurs, or SMEs, Kasikornbank Executive Vice President Pakorn Partanapat targeted the bank's SME loan growth at 8 to 10 percent, or 20 billion baht in 2010, from its outstanding loans for SMEs of 370 billion baht at the end of last year.
Pakorn said the forecast is based on the situation of improving economy which Thailand's GDP is likely to expand by 2.5 to 3.5 percent.
However, the ongoing domestic political tension must be closely monitored as it may discourage investments.
Recently, Kasikornbank promoted the bank's new campaign “SME Loan of Your Choice” for entrepreneurs. Customers can choose to vary the patterns of interest payments and turn instalment payments into working capitals for the first time in the country to help make the management of business liquidity more flexible.
The program “SME Loan of Your Choice” will focus on small business operators having annual turnover of 10 to 50 million baht.
Approval of loan applications will complete in three days while customers will be able to get the money in seven days.
They can pay the instalment at a fixed amount for five years or at only 60 percent of total monthly instalment of the remaining period for up to 18 months.
About 1,000 customers are expected to apply for the program with three billion baht in lending amount this year.
|
|
|
| |
|
|
|
|
|
