Thai Kiatnakin Bank cuts 2014 loan growth on political unrest

BANGKOK Tue Feb 18, 2014 12:23am EST

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BANGKOK Feb 18 (Reuters) - Kiatnakin Bank, Thailand's tenth-largest lender by assets, cut its 2014 loan growth forecast to a single digit from a previous forecast of 21 percent due to domestic political unrest and slowing economic growth.

This was on assumption that the economy will grow 2.8 percent this year versus previous forecast of 4.3 percent, the bank's president, Aphinant Klewpatinond, told reporters on Tuesday.

The bank's non-performing loans have risen 0.5 percent in January and the weaker economy could lead to an increase in bad debt, he said.

(Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Matt Driskill)

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