BANGKOK, April 9 Thailand's fifth-largest
lender, Bank of Ayudhya, said it has cut its 2014 loan
growth target to 7-9 percent from a previous estimate of 9
percent, to reflect weaker economic outlook and the impact of
domestic political unrest.
The projection was based on assumption that the country's
economy will grow at 2.5-3.0 percent this year, Chief Executive
Noriaki Goto told reporters after a shareholders' meeting on
"In the first quarter, our loan growth is in line with
target. But we are unsure about the outlook in the second to
fourth quarters due to the political uncertainty and the
economy," he said.
The bank, 72 percent owned by Japan's Mitsubishi UFJ
Financial Group, planned to tap large Japanese
businesses and aimed to keep its non-performing loan at 2.5
percent of total lending this year, he said.
(Reporting by Manunphattr Dhanananphorn; Writing by Khettiya
Jittapong; Editing by Muralikumar Anantharaman)