CIMB Thai Bank cuts 2014 loan growth target due to unrest

BANGKOK Wed May 7, 2014 10:39pm EDT

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BANGKOK May 8 (Reuters) - CIMB Thai Bank, a unit of Malaysia's CIMB Group Holdings Bhd, has cut its 2014 loan growth target to 10-15 pct from 15-20 pct due to Thailand's weak economic outlook and the impact from political unrest.

The bank's loans grew only 1-2 percent in the first quarter and the loan growth should accelerate in the second half, driven by demand from large corporate clients, Chief Executive Subhak Siwaraksa told reporters on Thursday.

(Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Paul Tait)