State banks target new loans of Bt370 bn this year

Government Savings Bank targets Bt107 billion in new loans, while Government Housing Bank expects Bt147 billion and the Bank for Agriculture and Agricultural Cooperatives Bt76.7 billion. The Small and Medium Enterprise Development Bank of Thailand targets Bt40 billion in new lending.

According to an anonymous source from BAAC, its board has agreed to a |five-year (2015-19) strategic plan. The strategies include promotion of inte-|grated community economic development, enhancement of competitiveness |in the agricultural sector for the Asean Economic Community, development of integrated financial services, balanced |and sufficient capital management, increased organisational competitiveness for the AEC, and upgrades of social and environmental responsibility.

The 2015 business plans and budget have also been approved. BAAC’s plans include new deposits of Bt65 billion and income from services and fees at Bt4 billion. Its non-performing loans are set to be no more than 4 per cent of total assets, which are set at Bt1.46 trillion.

BAAC’s 2015 budget is Bt35.3 billion. About Bt30.3 billion of that is allotted for operational activities, Bt5 billion for investment, and Bt2.8 billion for obligations from 2014.

The BAAC board also acknowledged that the fund to assist farmers was closed on September 30, 2014, ahead of schedule, as the bank had received a fund allocation from the Finance Ministry. After closing, the fund has remaining capital of Bt13.7 billion.

About Bt30.47 million of the capital donated to the fund was re-donated to the Chaipattana Foundation (Bt20 million) and Friends in Need (of "Pa") Volunteers Foundation (Bt10.47 million).