Krung Thai Bank to accelerate credit expansion

BANGKOK, 5 April 2010 (NNT) – Krung Thai Bank is to accelerate credit expansion for the large business projects, expecting 7% expansion if political situation remains normal.

Krung Thai Bank Deputy Managing Director Sompis Charoenkiatkul said that in the first two months of Q1 the bank could expand the credits two times beyond the target, worth more than 10 billion THB, and the remaining 100 projects of 60 billion THB under consideration. Ms Sompis stated that most of credit approvals were for businesses related with energy, agricultural industry, construction, real estate, manufacturing of auto parts and service industry.

The Deputy Managing Director clarified that there was a good sign for business expansion throughout Q1. Several large investment projects had requested for loans and the bank would release over 12 billion THB of loans in this year in particular to the projects of energy and construction. In case the country’s politics did not worsen together with the progress of Map Ta Phut solutions, Ms Sompis expected that the bank would expand the credit by 7% as the set target, worth 23 billion THB.