40 firms receive 12 billion baht in investment applications at 3rd Money Expo

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More than 30,000 people applied for 12 billion baht in loans and investments during the third Pattaya Money Expo at the Royal Cliff Beach Resort.

Forty financial institutions took 12,813 applications and inquiries for home mortgages, small business loans, gold purchases and other investments during the Feb. 15-17 fair at the hotel’s PEACH convention center.

The Government Saving Bank, Krung Thai Bank, Siam Commercial Bank, Thanachart Bank, Kasikorn Bank, Bangkok Bank, Thai Military Bank others saw 9.5 billion baht in home loan transactions, 1.7 million baht in small business loans, and 180 million baht in personal loans.

Deputy PM and Minister of Finance Kittirat Na Ranong (left), and Santi Viriyarangsarit (right), president of the 3rd Money Expo Pattaya event, interact with representatives of banks and financial institutions during the Money Expo Pattaya 2013 in the Royal Cliff Beach Resort’s PEACH conference hall.Deputy PM and Minister of Finance Kittirat Na Ranong (left), and Santi Viriyarangsarit (right), president of the 3rd Money Expo Pattaya event, interact with representatives of banks and financial institutions during the Money Expo Pattaya 2013 in the Royal Cliff Beach Resort’s PEACH conference hall.

Event director Santi Viriyarangsarit said home loans proved the most popular, due both to promotions offering no interest for 10 months, as well as Chonburi’s booming property market. Banks usually offer only three months of interest-free terms at their offices.

Banks spiced up their offers with add-ons including free appraisals, no mortgage fees, free fire insurance and other bonuses. Many attendees were well-prepared, with completed loan documents in hand when they arrived. While loans were not finalized at the expo, the show provided banks a means to do initial screenings for a large number of people.

(L to R) Thanit Viriyarangsarit, Money Expo vice president; Mayor Itthiphol Kunplome; Chonburi Governor Khomsan Ekachai; Santi Viriyarangsarit, Money Expo president; Kittirat Na Ranong, deputy PM and Minister of Finance; Areepong Phhocha-um, Ministry of Finance permanent secretary; Kesra Manchusaree, vice manager of the Stock Exchange of Thailand and Panga Vathanakul, MD of Royal Cliff Hotel Group (PEACH), together preside over the opening of this year’s Money Expo Pattaya.(L to R) Thanit Viriyarangsarit, Money Expo vice president; Mayor Itthiphol Kunplome; Chonburi Governor Khomsan Ekachai; Santi Viriyarangsarit, Money Expo president; Kittirat Na Ranong, deputy PM and Minister of Finance; Areepong Phhocha-um, Ministry of Finance permanent secretary; Kesra Manchusaree, vice manager of the Stock Exchange of Thailand and Panga Vathanakul, MD of Royal Cliff Hotel Group (PEACH), together preside over the opening of this year’s Money Expo Pattaya.

In addition to loans, gold traders and commodity brokers attracted customers for gold and gold-futures investments. Other participating companies offered stocks and mutual funds.

The Money Expo, the first to be held since 2010, wasn’t all number crunching, however. Organizers sponsored contests to win motorbikes, smartphones and trips to Africa and Australia. Thai pop bands Boy Pitsanu, Green Asdaporn, TU Thanaporn and Yaya Ying also performed.

Many people crowd into PEACH conference hall for the opening day of the 3rd Money Expo Pattaya 2013.Many people crowd into PEACH conference hall for the opening day of the 3rd Money Expo Pattaya 2013.