Thailand Loan Growth Likely To Reach 6-7 Per Cent This Year

Loan growth likely to reach 6-7 per cent this year

BANGKOK: -- A loan growth in the banking system is expected to reach 6-7 per cent this year although it has been affected by unfavourable factors, according to the Thai Bankers’ Association’s Chairwoman Jada Wattanasiritham.

She said the loan growth this year had been dampened by unexpected factors such as a global fuel price surge to US$77 per barrel and a political change.

Still, the Thai business sector had managed to adjust itself to possible risk factors in a quick manner, making the country’s exports and tourism grow satisfactorily.

So, she believed it would make the economy and loan extended by banks grow as targeted this year.

On a candidate for the central bank governorship, Jada, who is also president of Siam Commercial Bank, said she personally viewed the Bank of Thailand’s Deputy Governor Tarisa Watanagase is suitable for the post since she had a good knowledge of financial institutions.

On measures to help flood victims, she said, the bank was estimating damages incurred from the inundation.

Should it be aware of the scope of the extensive damages, it would find proper measures to help its customers such as a rescheduling of debt repayment.

--TNA 2006-10-12