GH Bank targets Bt120 bn mortages this year
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The Government Housing Bank is setting its mortgage target at Bt120 billion this year after achieving Bt57.66 billion in the first half.
President Angkana Chaimanat said yesterday that the bank had earned Bt3.71 billion in the first half. Its outstanding loans rose by 2.13 per cent to Bt721 billion from the end of last year, while its assets increased by 1.67 per cent to Bt748.29 billion and deposits by 8.34 per cent to Bt579.88 billion.
Its non-performing loans expanded to Bt60.19 billion or 8.34 per cent of total loans from Bt54.44 billion or 7.71 per cent of total loans.
”Our NPLs rose after the bank revised its booking process following the new standard suggested by the Bank of Thailand. However, if we had continued to use the same booking method, our NPL ratio would have been reduced to only 7.6 per cent,”
she said.
To achieve the new home-loan target of Bt120 billion, the bank will launch special marketing campaigns.
The first promotion offers a special interest rate of 3.5 per cent for the first two years for home renovation loans. The rate rises to 4 per cent in the third year and to the minimum retail rate minus 1.5 percentage points from the fourth to 10th year.
“We are targeting Bt10 billion renovation loans to celebrate the bank’s 60th year of operations,” she said.
