Thailand’s top six banks reported a meagre loan growth of 0.71% in the first three quarters of 2023, as compared to the same period in 2022. This slowdown is primarily due to reduced loan uptake by small and medium-sized businesses (SMEs) and an increase in household debt.
The six banks—Bangkok Bank (BBL), Kasikornbank (KBank), Krungthai Bank (KTB), Siam Commercial Bank (SCB), Bank of Ayudhya (Krungsri), and TMBThanachart Bank (ttb)—recorded a combined loan portfolio of 13.6 trillion baht (US$376,428,960,000) from January to September.
Among these, SCB X, an affiliate of SCB, topped the list with a loan growth of 4.4%. On the other hand, KBank and ttb reported a contraction in their numbers of 2.29% and 0.98%, respectively.
Krungsri, in its report to the Stock Exchange of Thailand (SET), attributed the increase of 67.4 billion baht in loans…
