Bangkok Bank sees 5-7% loan growth next year

The lender sees net interest margins to remain flat at 3% in 2011.

Thailand's top lender, Bangkok Bank Pcl, is aiming for 2011 loan growth of 5-7 percent, after an expected 5 percent this year, its executive chairman said on Wednesday.

"We will certainly achieve our loan growth target of 5 percent this year. For next year, we aim for our loans to grow 5-7 percent," Kosit Panpiemras told reporters, noting the bank was expecting economic growth of between 4 and 5 percent in 2011.

Lending in 2010 was supported by the global economic recovery, which boosted exports and investment.

Most Thai banks are expected to show strong loan growth next year on the back of government borrowing for projects and rising personal incomes.

Number two Krung Thai Bank has said it expected 2011 loan growth of 10 percent, third-ranked Kasikornbank aimed for 7-9 percent, and fourth-ranked Siam Commercial Bank is targeting 10-12 percent.

Bangkok Bank, with outstanding loans of 1.07 trillion baht ($35.49 billion) at end-November, reported a 3.22 percent rise in lending in the first 11 months.

View the full story in Reuters.

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