Bangkok Bank shares its view on NCPO's policies and implements measures to help out SMEs

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Bangkok Bank shares its view on NCPO's policies and implements measures to help out SMEs

BANGKOK, 18 June 2014 (NNT) - Kosit Panpiemras, Executive Chairman of the Bangkok Bank, has revealed that Thailand’s improved political atmosphere has drawn a number of investors and tourists to regain their confidence in the country.

The Bangkok Bank chairman remained confident that the National Council for Peace and Order (NCPO)’s policy to push the country forward would help strengthen Thailand’s economy as a whole.

Mr. Kosit also advised the NCPO not to bring back populist projects as they were the root cause of increased household debts and reduced consumer spending.

Meanwhile, Bangkok Bank Deputy Manager Weerasak Sutantawiboon said that the bank has come up with measures to help SMEs who were affected by the seven-month long political protest from November 2013 to May 2014.

Some of those measures include increasing the borrowing capacity for certain SMEs, giving out soft loans with low interest rates, as well as readjusting the terms of repayment and grace periods for the original loans.

The bank predicts that at least 1,000 SMEs would enroll in the program starting on December 30, 2014.


-- NNT 2014-06-18

[Hawk]

A country is a business, therefore in order to accumulate the country needs to speculate. Take risks and gamble is the way forward. You may own your land but you can't eat dirt!

Being financally too conservative will lead to zero growth and recession, people will suffer, unrest and chaos will follow. The powers that be seem to be pushing for limited spending in a time of economic recession within the country, so money becomes hard to get, banks stop lending, people can't finance private projects, consumer spending declines, prices of fundamentals skyrocket but loan sharks will reap the harvest of the decaying economy.

Will we see those extraordinary exchange rates of years gone by once again? Maybe as the baht has/will decline further?

[Searat7]

I just think they are trying to scrutinize various projects approved by the previous government to make sure they are transparent and free of corruption which makes good sense. Ending the populist programs makes good sense as well....there is no doubt that any new government would have to cancel the Rice Pledging Program and replacing the tablet program with computer classrooms is a big improvement- something all students can use. The new government has made tremendous progress in less than a month on many fronts...I hope the General becomes the interim PM so the progress can continue.

[anselpixel]

All the most conspicuous actions of the new regime smack of "populism," so what does this word actually mean to the bank managers?

[abrahamzvi]

All I can and wish to say is congratulations to the Bangkok Bank for its statement and intended actions and attitude. Well done!!!!!!!!!

[Pib]

Glad to see Bangkok Bank sucking up to the NCPO. Now Bangkok Bank, and other Thai banks, need to make their banking policies towards farangs more accommodative. Like making it easier to open bank accounts, accomplish funds transfers, getting ibanking, getting unsecured credit cards, etc.

[Nickymaster]

Glad to see Bangkok Bank sucking up to the NCPO. Now Bangkok Bank, and other Thai banks, need to make their banking policies towards farangs more accommodative. Like making it easier to open bank accounts, accomplish funds transfers, getting ibanking, getting unsecured credit cards, etc.

You are joking..right?

[Pib]

Glad to see Bangkok Bank sucking up to the NCPO. Now Bangkok Bank, and other Thai banks, need to make their banking policies towards farangs more accommodative. Like making it easier to open bank accounts, accomplish funds transfers, getting ibanking, getting unsecured credit cards, etc.

You are joking..right?

I'm dreaming.

[BillyBobThai]

I have often thought, that with the types of produce that can be grown here in Thailand, both grains and fruit, if a co-op was to produce some good whiskeys, wines and brandies, a higher profit could be made for the co-op as opposed to the sale of the grains or fruit. Problem one, the past government would not allow this to happen. One can not piss off the other competition, the big boys. Problem two, because of problem one, no one thinks outside the box. Between ASEAN taking off next year, and the new, more open minded government, the Thai people have more potential opportunities than probably anytime in their history. We as farangs, need to encourage all of our significant others to take the leap, and try something new and different. Sometimes you just need a little push / encouragement.