CIMB Thai Bank (CIMBT) expects to grow offshore loans this year thanks to regional business expansion of large local corporations, in line with Asean’s economic growth.
For the first half of 2023, offshore loans outstanding grew to 66 billion baht, up 70% from the end of last year. The bank expects continued growth in the second half, attributed to the high potential of the regional economy, said senior executive vice-president Wut Thanittiraporn.
Large local corporations have expanded operations in regional markets through several entry modes including outbound direct investment, exports, joint ventures, partnerships as well as mergers and acquisitions (M&A).
The regional business expansion is led by the energy,…
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