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LENDING & CREDIT | Cesar Tordesillas, Thailand

KTB providing loans to all industrial sectors

Krung Thai Bank approved over US$17.63 billion loans to telecommunications, automobiles and the petro-chemical industries in the first half of 2009.

According to Ms. Sompis Charoenkiatikul, Senior Executive Vice President, Managing Director, Corporate Banking Group, Krung Thai Bank PCL, the bank has continuously given support to all sectors with good potential along with offering loans to business sector that would help boost the country's economy. It also provided solutions to adversely-affected businesses.

"Krung Thai Bank supported the service sector with loans worth over 20,000 baht including telecommunication business, offices for rent, hotels, hospitals. In this regard, for automobile and petro-chemical industry, the Bank provided loans of similar credit line which will help defer workers layoff and relieve the country's labor problem. Moreover, the Bank made loans for agriculture and agricultural business sector including rice trading and exporting business, sugar factories, frozen foods, canned fruits thus supporting agricultural product prices, as well as helping Thailand's export sector," she pointed out.

The bank has also provided loans to railway transport projects, construction businesses, and real estate developments. Among them is the US$146.9 million loan for the construction of the Red Line of suburb train Bangsue-Taling Chan.

This project will help increase efficiency of the country's suburb transportation. The train can cater for more than 35,000 passengers commuting from Taling Chan to Bangsue each day which will decrease the country's traffic at certain level.

The bank anticipates that it will be able to make the same amount of loans for the second half of the year as it did in the first half.

For customers hit by the world economic crisis, the bank will give relaxation and adjustment of debt repayment conditions.

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