GH Bank bullish on second-hand housing
State-owned GH Bank targets 4 billion baht in online sales of second-hand houses this year, 14% higher than last year, even as the pandemic batters the Thai economy, says president Chatchai Sirilai.
The state-run bank sold non-performing assets (NPAs) worth 3.51 billion baht last year when the pandemic began.
This year GH Bank is more focused on selling NPAs online, allowing prospective buyers to participate more easily in sales, hopefully generating higher revenue than last year, he said.
The bank sold second-hand houses via its booths and online last year. During the first four months of 2021 GH Bank sold second-hand houses valued at 1.46 billion baht, a surge of 107% from the same period last year.
The heavier focus on selling NPAs online reflects the bank's strategy to become a fully digital bank by 2023. GH Bank encourages clients to complete banking transactions via its application.
The bank set a new loan target of 216 billion baht this year, up from 210 billion last year.