LH Bank Opens New Branch in Thailand's Eastern Economic Corridor

 

Land and Houses Bank (LH Bank), a leading Thai financial institution, has inaugurated a new branch in Amata City Chonburi, strengthening its footprint in Thailand's Eastern Economic Corridor (EEC). 

 

The strategic location aims to serve both Thai and foreign investors in one of Southeast Asia's most promising economic zones.

 

"This branch is not merely another addition to our network of 72 locations across the country; it marks our first dedicated business branch serving small and medium enterprises in the Eastern Economic Corridor," said Mr Shih Jiing-Fuh, LH Bank's CEO and President, during Friday's grand opening ceremony.

 

 

Elaborating on the decision, Mr Shih explained: "Amata City sits at the heart of the Eastern Economic Corridor, Thailand's fastest-growing economic zone, boasting a GDP exceeding 1 trillion baht and the highest per capita income in the country. With foreign direct investment continually robust, we aim to be an integral part of this thriving community and its growth trajectory."

 

The new facility represents a significant milestone in LH Bank's expansion strategy as it approaches its 20th anniversary later this year.

 

 

What distinguishes this location is that it is "the only full-service branch within LH Bank that caters specifically to small and medium business owners and their employees," Mr Shih emphasised.

 

The branch opening aligns with LH Bank's broader strategic plans announced in February.
 

 

As the financial subsidiary of property developer Land and Houses Plc (LH), the bank declared its intention to expand its loan portfolio with an emphasis on high-yield products.

 

Despite Thailand's sluggish economy and increasing household debt, LH Bank has established ambitious growth targets for 2025, aiming for a 16% rise in SME loans and a 20% increase in mortgage lending.

 

The bank is targeting overall loan growth of 7-8% for the year, building on last year's 8.3% increase that resulted in a total loan portfolio of 289 billion baht.

 

 

As part of this aggressive expansion strategy, LH Bank anticipates its non-performing loan ratio may rise slightly from 2.3% last year to approximately 3% this year.

 

Unlike conventional branches, this location has been specifically designed to bring banking services closer to business activities, with specialised facilities including a business lounge and meeting rooms for corporate clients.

 

Dedicated wealth relations managers are available to provide bespoke solutions tailored to the requirements of business owners.

 

The branch will primarily serve manufacturers and industries across three categories: Thai entrepreneurs in the EEC area, foreign businesses already established in the region, and Taiwanese companies considering investment in the industrial estate.
 

 

 

Mr Lee Yu-Chou, Chairman of LH Bank, highlighted the international dimension of the new branch during the ceremony.

 

"With the strong backing of CTBC Bank—a leading financial institution in Taiwan with over 410 branches across 14 countries—we are well-equipped to offer innovative products tailored to meet both your company's and individual financial requirements," Mr Lee stated.

 

The new branch features dedicated SME teams providing comprehensive services including trade finance, foreign exchange services, and digital tools tailored for various industry sectors.

 

It also offers a "Trade Service One-stop service" for international trade transactions and allows customers to select personalised business account numbers through a project called "Dragon Number".

 

 

Looking ahead, Mr Shih expressed optimism about the EEC's economic prospects.

 

"Despite external challenges, such as the US tariff war, we believe that the region will continue to attract FDI (foreign direct investment), making it a prime destination for manufacturing," Mr Shih stated. 

 

He added that LH Bank is poised to expand its offerings further, ensuring they remain well-equipped to meet the changing needs of clients in this vibrant economic landscape.