SME Bank’s 11-month net jumps 27.72%
THE SME Development Bank registered a 27.72-per-cent surge in net profit to Bt1.59 billion for the first 11 months of this year, which it attributes to the quality of loans and management of non-performing loans as targeted.
Bank chairman Somchai Harnhirun said NPLs as of November amounted to Bt18.89 billion, down Bt7.26 billion from the same time last year. New loans totalled Bt31 billion.
About 4,298 small and medium-sized enterprises participated in the bank’s development projects exceeding the target of 4,200, while 1,005 SMEs were able to boost their operational efficiency, 505 raised their effectiveness and 500 saw job creations.
Total sales of the participating SMEs rose 5 per cent year on year or about Bt600 million.
The bank’s turnaround project assisted 75 SMEs, with debt restructuring worth a total of Bt65.58 million and including two legal rehabilitations.
The bank in collaboration with universities helped about 60 SMEs and Otop (One Tambon One Product) companies in marketing through a project called “Modern SMEs: Design & Story”, while helping increase distribution channels for 310 clients for Bt35 million in total sales.
Under the bank’s policy to support SMEs involved in environmentally friendly operations, it set aside an investment budget of about Bt600 million for joint ventures.
Of that, Bt212 million has already been invested, and Bt135 million is awaiting approval for teaming up with seven SMEs.
