BANGKOK, 9 August 2013 – The Bank of Thailand (BoT) is keeping a close watch on bank loans as the drop in Thailand’s exports has caused the slowdown in the growth of the loan segment.
The BoT has disclosed that in the second quarter of 2013, commercial banks saw a stable growth in their operation, but the loan segment had a slight drop in its growth in accordance with the country’s declining demand and exports. It added that consumer loans in the second quarter also dropped as the government’s first-car-buyer policy has come to an end. However, personal loans saw a continuous expansion, thanks to the rise in domestic spending.
The BoT further revealed that commercial banks had a combined net profit of 58.1 billion baht in the second quarter, adding that the Central Bank will keep a watchful eye of the consumer loans, particularly on real estate and car loans.
The Central Bank also expects the overall loan situation in the 3rd quarter of 2013 to drop further due to the economic slowdown, but it believes that the loan segment will grow at about 13-14 percent this year.