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Home loan approvals break target on high economic confidence

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Home loan approvals break target on high economic confidence

 

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BANGKOK, 21st September 2017 (NNT) – Commercial banks have reported better than targeted growth in home loans during the first half of the year on the back of steady economic recovering bolstering public confidence. 

Bank of Ayuthaya Vice President for Home Loans, Nattaphol Luepromchai said today that new loans for homes across the board were down 9 percent during the first half of this year as the real estate market slowed and many companies cut prices due to an oversupply. Meanwhile, financial institutions during the period relaxed loan approval regulations as the debt situation caused by the first car buyer scheme began to lift. 

In the latter half of the year, new loans are expected to grow 5 percent on the recovering economy and high competition among banks. 

Bank of Ayuthaya in the first half of the year issued loans for real estate worth 25 billion baht, 4 percent above target and expects full year approvals to reach 59 billion baht.

 
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-- nnt 2017-09-21
5 hours ago, webfact said:

high competition among banks. 

To see who will be broke first I imagine ! And if you think those nice army guys will keep the banks afloat at the cost to their submarine fleet, you better have another plan.

You got to be kidding me. 1997 all over again......

18 hours ago, webfact said:

Commercial banks have reported better than targeted growth in home loans during the first half of the year

But on the other hand:

18 hours ago, webfact said:

new loans for homes across the board were down 9 percent during the first half of this year

So does that mean the targeted growth was inverse - that targeted "negative" growth was less than anticipated? Very confusing report.

18 hours ago, webfact said:

In the latter half of the year, new loans are expected to grow 5 percent

So as to give an annual net negative growth rate of 4% for 2017?

Quantum String math seems simpler.

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