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Baht/$ 33.50/55
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GOLD |
14,450
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BANKING
SOMRUEDI BANCHONGDUANG
Non-performing loans at Siam City Bank have risen to 7.19% of total loans at the end of June from 6.84% at the end of 2007, due largely to high inflation and weak consumer and business confidence.
SCIB president Chaiwat Utaiwan said the bank aimed to reduce its gross non-performing loans to below 5% of total loans by the end of the year through asset sales and loan restructuring.
He said the bank had also split its risk management and credit management units as recommended by the Bank of Thailand following last year's annual examination. The new structure is hoped to improve lending operations and overall asset quality.
On the lending side, SCIB has reorganised its operations under seven new nationwide loan clusters, with the aim of improving customer service for clients.
Mr Chaiwat said SCIB aimed for 30 billion baht in new lending this year or 12% growth from 2007. For the first half, the bank lent six billion baht in new loans, primarily retail loans. Outstanding loans at the end of June totalled 239.78 billion baht.
He said consumer finance and small business loans would help support growth in the second half.
Shares of SCIB closed yesterday on the Stock Exchange of Thailand at 13.3 baht, down 60 satang, in trade worth 28.39 million baht.
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