GSB's new chief vows to expand microfinance

BANKING

GSB's new chief vows to expand microfinance

Published: 15 Dec 2012 at 00.00
Newspaper section: Business

The newly appointed president of the Government Savings Bank (GSB) will continue a major policy of its former head by aggressively expanding its microfinance business spearheaded by its People's Bank project.

Voravit Chailimpamontri, who took up the post last month, said microfinance is a core strength of the bank and benefits should be maximised through expansion.

Microfinance will be an option for people that were forced to rely on non-system lenders and being charged interest as high as 5-10% per month.

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boons
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Discussion 1 : 16 Dec 2012 at 19.561
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Microfinance was a disaster in India and elsewhere. Mohammed Yunis was a typical bubble-blower at the end of the day. He found a new market for debt, exploited it, and the typical bubble curve (inflation to default) took its course. But true to form, long-term success is not (and has never been) the interest of the banker. Short term profits are -- regardless of the wreckage they leave behind.
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GSB's new chief vows to expand microfinance | Bangkok Post: business