Siam Commercial Bank (SCB), a banking business unit under SCB X Plc, has tightened underlying criteria on new loan approval to control asset quality amid higher risk.
Given the global economic slowdown and China’s slower than anticipated economic recovery, exports are expected to contract this year.
Higher household debt following the redefinition by the Bank of Thailand and rising interest rates would also dampen consumer purchasing power.
In light of this scenario, the bank has tightened underlying criteria on new loan offerings to control asset quality, said SCB’s chief executive Kris Chantanotoke.
SCB, the country’s fourth-largest lender by total assets, would pay more attention to asset quality rather than…
