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Thai banks target loan growth of 3-5% this year - central bank

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Thai banks target loan growth of 3-5% this year - central bank

 

2019-11-18T084014Z_1_LYNXMPEFAH0N4_RTROPTP_4_THAILAND-MARKETS.JPG

FILE PHOTO: Thai baht notes are seen at a Kasikornbank in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Commercial banks are aiming for loan growth of 3-5% this year, with lending seen picking up in the final quarter, a senior director at the Bank of Thailand said on Monday.

 

Lending rose 3.8% in the third from a year earlier, slowing from a 4.2% rise in the previous quarter, director Tharith Panpiemraas told a news briefing.

 

Last year, loans expanded 6%.

 

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-- © Copyright Reuters 2019-11-18

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I never got to terms with the fact that anybody in his right mind would borrow money from banks which do not know the difference between a mortgage and a normal credit loan which is offered at staggering Yearly interest rates closer to 10% than to 5% against collaterals which are usually 200%+ of the loan. It also takes more than a month to get a loan approved (so I am being told) hence a good business opportunity might be lost for an investor simply because the banks are poking noses and scratching you-know-what. 

All the others with no collaterals, no financial educations whatsoever etc. are feeding the ever-present loan sharks, albeit at interest rates of 4% - 10%; per month that is. 

So, while they figure out how to get the money (cheap) out of the Social Security Insurance they simultaneously look into increasing loans. To the benefit of who please? 

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Thailand’s recession moves forward at a rapid pace.  The SET falls reflecting the out of control currency.  This will end in tears.

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