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Government Savings Bank’s loans top Bt2 tn in first for Thai lender

Jan 26. 2018
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By The Nation

Government Savings Bank’s loans have exceeded Bt2 trillion, making it the first bank in Thailand to have such a high level of outstanding loans, says Chartchai Payuhanavichai, president and CEO of GSB.

Chartchai said on Thursday that the state-owned GSB’s new lending rose 6.9 per cent last year to Bt112. 3 billion . This led to accumulated Bt 2.01-trillion outstanding loans and it became the first local bank to have loans exceeding Bt2 trillion mark.

The bank also had large accumulated deposits worth of Bt2.3 trillion at the end of last year, or up 4.5 per cent from the year before.

It had non-performing loans worth Bt 41.2 billion or 2.05 per cent of total loans. The bank transferred Bt13 billion, part of its total profit of Bt31.2 billion, to government coffers last year.

The bank’s customer base expanded 21 per cent. Among those aged 18-22, their ranks surged 34 per cent, he added.

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