Siam Commercial Bank retains 18% loan growth target in 2011

The lender still optimistic of the goal despite expected slowing down of lending growth in the fourth quarter.

Siam Commercial Bank PCL, Thailand's third largest lender by assets, is maintaining its 2011 loan growth target of between 15% and 18%.

Loan growth in the fourth quarter is likely to slow down on year due to a high-base effect, President Kannikar Chalitaporn said late Wednesday in a report in Fox Business.

Kannikar said the bank's lending expanded 21%-22% for the first seven to eight months.