FRIDAY, March 29, 2024
nationthailand

Islamic bank sets high profit, loan targets

Islamic bank sets high profit, loan targets

The Islamic Bank of Thailand is looking to achieve an operating profit of Bt1.135 billion and Bt1.088 billion in net profit next year, the bank’s new president, Wuttichai Suraratchai, said.

The bank has set a loan target of Bt12.5 billion next year, up from this year’s target of Bt8 billion.
Wuttichai, a 30-year industry veteran, took over the top position on October 1.
Prior to that, he was executive vice president of Thanachart Bank.
The Finance Ministry, the bank’s major shareholder, has raised its stake in the bank to almost 100 per cent after a recent amendment to the law governing the setting up of the Islamic Bank of Thailand. The revised law allows the ministry to own more than 49 per cent in the bank. 
Currently, it has a paid-up capital of Bt18.1 billion. 
The bank is not in a rush for strategic partners, chairman Pornlert Lattanan said.
Wuttichai said the bank had submitted its business expansion plan to the State Enterprise Policy Committee, which will forward it to the State Enterprise Policy Commission for consideration. 
The plan focuses on widening its customer base, improving organisational efficiency, staff development and business expansion.
It also seeks to boost the bank’s loan-granting process, asset value as well as the adoption of digital technology in services.
 

nationthailand