Business loan application to rise this year

[webfact]

Business loan application to rise this year

 

 

BANGKOK: -- Business loan application last year grew only 2%, the lowest in a seven-year period, the Bank of Thailand revealed.

 

But for this year, loan application will rise significantly, it said.

 

Somboon Jit-Penthom, the assistant governor of the Bank of Thailand, revealed that business loan applications in 2016 grew by only 2%.

 

This is much lower than the 4.3% growth recorded in 2015 and represents the lowest growth figures in a 7 year period since 2009.

 

He said in that year loan applications contracted by 1.7% which was brought about by the US financial crisis which resulted in the global economic downturn.

 

During that period business loan applications grew by only 0.6% while applications for corporate loans contracted by 1.1% over the previous year.

 

SME loans only grew by 1.8% and overall most of the contraction was restricted to the industrial and real-estate sector, he said.

 

Meanwhile Bank of Thailand (BOT) governor Wirathai Santipraphob said that commercial loans applications this year will see a significant increase over last year which only grew by 2%.

 

Full story: http://englishnews.thaipbs.or.th/business-loan-application-rise-year/

 

-- © Copyright Thai PBS 2017-02-10

[canopus1969]

governor Wirathai Santipraphob said that commercial loans applications this year will see a significant increase over last year which only grew by 2%.

 

My have bought the same model crystal ball as the TOT boss  

[whinginggit]

3 hours ago, webfact said:

Meanwhile Bank of Thailand (BOT) governor Wirathai Santipraphob said that commercial loans applications this year will see a significant increase over last year which only grew by 2%

Did this chap work at Tourism Authority of Thailand previously?  Number pulling from the abyss!

[Nigeone]

Always makes me laugh these projections... Based on what are they made! As others have said maybe after a stint with TAT they move on with there new focasting skills to pastures new. 

[Reigntax]

They can now predict that loan applications will rise.? How is it that these banks are not the hub of the financial world?

[yankee99]

with Thai interest rates taking a business loan is a sure way to go out of business. These creeps call my phone daily.

[elgordo38]

Its funny to read the Business section of the large English language newspaper 98% predict an increase in business and not just small numbers its 10% up to as high as 30% mind boggling numbers. Makes me wonder if I am living on another planet. 

[Si Thea01]

Not that I am looking for a loan but I keep hearing amongst the locals that many, including business people, are experiencing difficulty in obtaining a loan, business or personal.  Can anyone confirm if this is correct.  Thanks in anticipation.