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KBank expects lower home loan growth in 2012

Nov 30. 2011
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By The Nation

Kasikornbank targets to lend Bt50 billion of home loan next year, representing an 8 per cent growth from this year's level.

 According to first senior vice president Chartchai Payuhanaveechai, the growth rate is lower than this year's as home loan demand should remain weak to the middle of next year.

 At the end of 2011, outstanding home loans should stand at Bt188 billion, 13 per cent up from end-2010 level.

 Chartchai expects condominiums in inner areas of Bangkok as well as those situated in Srinakarin and Bang Na areas would be best-selling, aside from those in major provincial destinations like Pattaya, Chon Buri, Hua Hin, Khao Yai and Kanchanaburi.

 KBank unveiled that 69,000 clients have been affected by floods, and 3,000 have filed requests for help. It expects the number of requests to hit 7,500.  The bank offers maximum 40 per cent cut in monthly installments for 12 months or the moratorium of principal and interest. It also allows affected clients to borrow 100 per cent of paid mortage loans. It also joins hands with over 200 shops to offer discounts on electrical appliances and prepares over 8,000 workers to help clients fix their homes and affected items.


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