GHB to increase mortgages by 6 percent next year due to strong economic indicators

 

BANGKOK, 7 December 2016 (NNT) - The Government Housing Bank (GHBank) is aiming to boost mortgages by 6 percent next year, on anticipated economic recovery. 

GHBank President Chatchai Sirilai revealed that in the first 11 months of 2016, the bank was able to issue 148 billion baht in mortgages. It expects to issue 170 billion baht in mortgages by the year end. 

Mr Chatchai said he expects Thailand’s GDP to grow by 3 - 3.5 percent next year. His bank aims to increase mortgages by 5 - 6 percent or 10 billion baht, while reducing non-performing loans to 4 percent from this year’s 5.25 percent. 

Meanwhile, the bank’s Reverse Mortgage program for senior citizens from the ages of 60 - 85 is pending legislative amendments, before the program is submitted to the Council of the State and the National Legislative Assembly for deliberation. GHBank is preparing 10 billion baht for the program.

 

-- nnt 2016-12-07

More money being loaned and people losing jobs every day. 

The economy is certainly not heading upwards any time soon.

11 hours ago, Sunderland said:

More money being loaned and people losing jobs every day. 

The economy is certainly not heading upwards any time soon.

Spot on! The only indicators that seem to be going upwards in Thailand are the fabricated tourist arrival numbers. I seem to recall that a few weeks ago the big property developers were begging for government help because there were not enough buyers. It seems their pleas were heard, so now more people will be able to buy grossly over-priced dog-box sized apartments that they stand little chance of being able to pay off.

That banks are some of the most conservative in the world. The standards for getting these loans are nearly impossible for the average person. My guess, is that 80% of these home loans are going to government employees. Very few in the private sector seem to be qualifying. They are some of the most cowardly bankers on the planet. 

I think the guy's at GHB should hold the bus Australia has just experienced a minus  GDP of 0.05% another quarter like the last and Oz is in Recession...................................................................

1 hour ago, spidermike007 said:

That banks are some of the most conservative in the world. The standards for getting these loans are nearly impossible for the average person. My guess, is that 80% of these home loans are going to government employees. Very few in the private sector seem to be qualifying. They are some of the most cowardly bankers on the planet. 

 

I personally believe that conservative banks are a good thing, and that the Thai banks are generally in good shape.

 

Or would you prefer the slow moving train crash of Europe, and the 20 year bail out of the Japanese banking sector?

2 hours ago, spidermike007 said:

That banks are some of the most conservative in the world. The standards for getting these loans are nearly impossible for the average person. My guess, is that 80% of these home loans are going to government employees. Very few in the private sector seem to be qualifying. They are some of the most cowardly bankers on the planet. 

I have heard that currently there is a 70 percent rejection rate for mortgage applications. 

1 hour ago, chainarong said:

I think the guy's at GHB should hold the bus Australia has just experienced a minus  GDP of 0.05% another quarter like the last and Oz is in Recession...................................................................

But your country is run by Prisoners. Not Generals   :)

1 hour ago, 12DrinkMore said:

 

I personally believe that conservative banks are a good thing, and that the Thai banks are generally in good shape.

 

Or would you prefer the slow moving train crash of Europe, and the 20 year bail out of the Japanese banking sector?

 

 

Somewhere in the middle. I think what happened in the US 10 years ago was extreme. But, the banks here are ridiculous to deal with, when it comes to loans. They are far too conservative. It constricts the economy, and denies alot of qualified people the ability to purchase a home. 

 
 
Somewhere in the middle. I think what happened in the US 10 years ago was extreme. But, the banks here are ridiculous to deal with, when it comes to loans. They are far too conservative. It constricts the economy, and denies alot of qualified people the ability to purchase a home. 

Australian banks are also conservative but then again both countries were exempt from the sub prime crisis

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17 hours ago, Sunderland said:

More money being loaned and people losing jobs every day. 

The economy is certainly not heading upwards any time soon.

Anticipated an overworked word here. I am anticipating to living to be 100 (oh crap I hope not) I hope all these glorified predictions for 2017 do not cause a lot of people to fall on their sword. OOps sorry thats Japan.