InfoQuest, (May 21, 2019) -- Mr. Somchai Lertlabhasin, senior director of the Financial Institutions Strategy Department under the Bank of Thailand (BOT), revealed that loan growth in the commercial banking system slowed to 5.6 percent in the first quarter of 2019 from 6.0 percent in the previous quarter. This slowdown was mainly because some debtors in the industrial and service sectors turned to the bond market for financing.
Consumer loans continued expanding, which was mainly fueled by strong consumption growth, intensified competition in the microfinance market, and accelerated issuance of housing loans by banks before the loan-to-value (LTV) measures are implemented.
In 2019, loans in the commercial banking system are expected to grow 5-6 percent.
Source: InfoQuest, by Thaba/ Kasamarporn / Rachada, translated by Xinhua Silk Road.
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