KTB clients show lower confidence
Krung Thai Bank's business client confidence dropped in the third quarter, due to floods and likely increases in raw materials and wages as well as weakening global demand.
The Krung Thai Business Index, covering opinions from over 2,000 business clients of all sizes and all industries, fell from 53.94 in the previous quarter to 53.52 in the third quarter.
Sompit Chareonkietkul, senior executive vice president of the bank, said that the index dropped slightly as the survey was conducted during mid-September and early October when flood impacts were milder and manufacturing plants stayed dry.
"We expect a continued drop in the index in the last quarter. Aside from existing negative factors, business operators would suffer from supply chain disruptions particularly in the automotive as well as electronics and electrical appliances which constitute a large portion of Thailand's exports," she said.
To assist its corporate and individual clients, KTB offers 6-month moratorium on principal and interest repayment. Individuals and SMEs of which revenue pipeline is cut are charged zero per cent.
