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

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  

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!

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. 

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

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

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. 

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.