BANGKOK, June 2 (Reuters) - Thailand’s TMB Bank said on Monday its loan book was likely to grow 10 percent this year, better than an earlier forecast of 6-8 percent, on expectations that the new military government would revive the economy.
“It’s possible that loans could grow as much as 10 percent now we have the army government, which will help speed up the process of paying money to farmers under the rice-buying scheme,” Chief Executive Boontuck Wungcharoen told reporters.
Boontuck, also chairman of the Thai Bankers’ Association, said he expected 10 percent growth in loans for the overall sector.
TMB Bank, the country’s seventh-largest lender, is 31 percent owned by Dutch financial service company ING Groep and 26 percent owned by the Thai Finance Ministry.
The bank, formerly known as Thai Military Bank, was once owned by the military.
The armed forces now own just 1.25 percent but coup leader General Prayuth Chan-ocha is on the board.
Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Alan Raybould