TMB Bank raises revenue growth target from corporates
TMB Bank Plc targets growth of 6 per cent in revenue from big corporate customers to Bt12 billion this year from Bt11.88 billion in 2016, the bank’s chief wholesale banking officer Senathip Sripaipan said.
The bank also targets Bt3.4 billion in fee income or a rise of 30 per cent from Bt2.6 from billion last year, he said.
He added that revenue from corporates would come from issuing letters of guarantee to private firms after they secure government contracts for the construction of infrastructure projects or the supply of electricity to the public. Revenue will also come from the issue of letters of guarantee to exporters as well as the granting of new loans to companies expanding their investment in the rest of the year as the country’s economy recovers.
The bank expects a slight rise in loan growth to Bt20 billion this year, mainly from credit extension to companies in the construction raw materials, logistics, services and import-export sectors, as well as infrastructure developers with government contracts, he said.
Growth in outstanding loans
The bank targets outstanding loans to reach Bt400 billion at the end of this year, up 12.6 per cent from the current outstanding loans of Bt355 billion.
As for outstanding loans, the bank is targeting Bt180 billion loans to big corporations with sales value of Bt5 billion a year, Bt80 billion to companies with sales value between Bt1 billion and Bt5 billion a year and Bt120 billion from corporate customers with sales value between Bt100 million and Bt1 billion a year, he said.
Meanwhile, the bank will keep its non-performing loans or NPLs at not more than 1.7 per cent, slightly higher than last year’s 1.6 per cent.
“We have continued to monitor our NPLs through tighter scrutiny of new applications and new restrictions on loans ,” he said.
In the first half of this year, TMB Bank reported total revenue of Bt23.98 billion, with Bt4.42 billion net profit.
