Loan growth slows amid credit crunch

Quick Summary:

Kasikorn Research Center (K-Research) has slashed its total loan growth projection for the banking industry in 2024 to 1.5% from an earlier forecast of 2.5-3.5%.

Business and consumer loans declined by 1.3% and 0.03%, respectively, while government loans and business loans saw higher debt repayments, according to K-Research.

K-Research predicts the country's household debt-to-GDP ratio will decline slightly to 90.7% this year, down from 91.4% last year, based on higher GDP growth.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Loans Higher K-research Loan Consumer Business Expected Debt Growth Household Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-14 @ 04:00:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 455 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 22070248

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