Demand weak as economy slows
The banking sector is expected to post marginal loan growth in the first quarter this year, attributed to sluggish demand caused by the global economic slowdown and Thailand’s uneven economic recovery.
Data from the Stock Exchange of Thailand (SET) revealed that as of February, the 10 SET-listed banks reported combined loans outstanding of 12.9 trillion baht, down by 0.04% from the end of last year.
Of the 10 banks, five recorded tiny loan growth, while the other five reported a small contraction.
Siam Commercial Bank (SCB), the country’s fourth-largest…
