FINANCE

The 2012 Money Expo received a sluggish response from consumers. Both financial transactions and visitors were lower than projected, mainly due to ineffective promotional campaigns and rainstorms during the fair.

Santi Viriyarungsarit, group editor of Money & Banking Magazine, the exhibition organiser, said financial transactions this year totalled 92.92 billion baht, lower than its target of 120 billion.

Visitors numbered 850,000, lower than its projection of 900,000. Hard rain during the expo's four days _ May 17-20 _ was cited as a factor.

More attractive mortgage loans last year, offering no-interest for two years compared with only one year this year, was another reason for the decline.

Mortgage loans are the key financial product drawing visitors to the expo. Housing loan applications accounted for combined credit lines of 56.17 billion baht this year, down from 78.99 billion last year, while deposits were 5.18 billion this year, down from 11.97 billion in 2011. But small and medium-sized enterprise loans increased from 23.03 billion last year to 25.58 billion baht.

"This year financial institutions joining the expo mainly focused on advisory service and planning," said Mr Santi.

Chatchai Payuhanaveechai, executive vice-president of Kasikornbank, said its financial transactions at the fair totalled 10 billion baht, half its target of 20 billion. However, the bank's booths had 11,000 visitors, the most at the fair.

"Inconvenient transportation and rainstorms affected turnout," he said.