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Thailand's Bangkok Bank cuts 2014 loan growth target to 3-5 pct
May 8, 2014 / 4:12 AM / 3 years ago

Thailand's Bangkok Bank cuts 2014 loan growth target to 3-5 pct

BANGKOK, May 8 (Reuters) - Bangkok Bank Pcl, Thailand’s largest lender by assets, has cut its 2014 loan growth target to 3-5 percent from 5 percent to reflect the weaker economic outlook and the impact from prolonged political unrest.

The revision was based on assumption that the country’s economy will grow 2 percent this year and the bank’s non-performing loans will remain stable at the current level of about 2 percent of total loans at the end of this year, President Chartsiri Sophonpanich told reporters at a sideline of a marketing event.

Separately, Teeranun Srihong, president of Kasikornbank , said the country’s fourth-largest lender is maintaining its 2014 loan growth target of 8 percent due to strong demand from large corporate clients, especially in the infrastructure, energy and export sectors.

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

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