Thursday, November 14, 2019

LH Bank to step up on lending next year

Oct 05. 2019
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By THE NATION

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Land and Houses Bank (LH Bank) will clarify its business strategy for 2020 at the beginning of the year, said president Chompoonoot Pathomporn, who took on the top post three months ago.

The bank would focus more on the mortgage loan sector, targeting potential buyers of properties worth more than Bt5 million per unit. This group of consumers still have high purchasing power, she said. 

It will also tap into mid-corporates with sales revenue of between Bt500 million to Bt1 billion a year.

Though there is high competition among banks to woo this segment, she believes there is room for growth in lending.

In addition, the bank will further expand the base of wealth customers, both elderly and young people. 

Next year, she said, the bank would expand in many fronts for new income sources and introduce a digital lending platform in joint venture with startups.

This year, LH Bank has been more prudent in approving loans in line with the softening economy. It expects Bt4 billion to Bt5 billion in new mortgage loans this year.

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