Thailand's SCB aims for double-digit lending growth

Siam Commercial Bank unveiled its plans for 2013 to boost growth.

It has set six key objectives for this year - expanding retail banking, building market share in the SME segment, extending its network in foreign markets, upgrading operating and core information-technology systems and developing highly skilled human resources.

These will serve to sustain double-digit loan growth and reduce non-performing loans, while remaining wholeheartedly customer-centric.

SCB president Kannikar Chalitaporn said yesterday sees gross domestic product expanding about 4.6 per cent this year. Loan demand will be driven by consumers rather than corporations.

Based on the GDP forecast and expected overall loan growth of 10.7 per cent, SCB should grow 12-15 percent in 2013, supported by its retail business and lending to small and medium-sized enterprises.

Its loan portfolio is 42-per-cent retail, 39-per-cent wholesale and 19-per-cent SME.

SCB must work on improving its NPL rate from 2.13 per cent currently to below 2 per cent, she said.

For more.

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