BAAC approves loans worth over 1.2 trillion baht to spur economy

 

BANGKOK, 3 November 2017 (NNT) - The Bank for Agriculture and Agricultural Cooperatives (BAAC) has announced its six-month performance, saying it had already approved loans worth over 1.29 trillion baht to stimulate the Thai economy this year. 

The BAAC Manager, Aphirom Sukprasert, said the bank had approved additional loans worth 17.843 billion baht between April 1st and September 30th, 2017. As a result, the total amount of outstanding loans stood at 1.29 trillion baht, up 1.40 percent from the previous year. 

As for the BAAC's asset quality, the bank has 5.75 percent of Non Performing Loans (NPLs) and a strong Bank for International Settlements (BIS) ratio of 12.37 percent, higher than the Bank of Thailand's benchmark of 8.50 percent. 

This year, the BAAC has continued to serve as a mechanism for the government to steer agricultural policies through major measures and projects.

 

-- nnt 2017-11-03

6 hours ago, webfact said:

BAAC approves loans worth over 1.2 trillion baht to spur economy

My how times have changed since Yingluck approached BAAC in 2013 for Bt500+ billion loan to pay off all the unpaid rice farmers in the rice pledge program that would have spurred the economy and denied. Just goes to show how much more convincing a military government can be when it comes to borrowing money.