GH Bank new mortgages dip in Q1
published : 21 Apr 2023 at 07:07
newspaper section: Business
writer: Wichit Chantanusornsiri
New mortgage lending for Government Housing (GH) Bank during the first quarter this year dropped 11% year-on-year, attributed to higher lending in the same period last year, according to acting president Krit Sesavej.
He said the bank extended loans worth 55.2 billion baht in the first quarter, representing 23.5% of the total lending of 235 billion it targets for the whole of 2023.
New lending in the first quarter of 2022 was 62.4 billion baht.
Mr Krit said he believes loan demand will increase in the second quarter as seasonally it is a better period for the bank than the first quarter.
The bank's outstanding loans as of the first quarter this year stood at 1.62 trillion baht, up 1.17% from the end of last year, while total assets tallied 1.71 trillion, up 3.29%.
Total deposits totalled 1.46 trillion baht, up 3.53%.
The bank's non-performing loans were 66.7 billion baht, up 0.38% from the end of last year, accounting for 4.12% of total outstanding loans.
GH Bank posted net profit of more than 2.68 billion baht in the first quarter this year.
He said the bank's mortgages are expanding thanks to the economic recovery, which stimulates people's demand to buy homes.
GH Bank also offered a low-interest-rate loan programme named "One Million Home" to support house purchases, in line with the government's policy of promoting people owning homes.
The bank has extended 235 billion baht under the scheme.
Earlier GH Bank offered low-interest loans to employees insured under Article 33 of the Social Security Act.
It extended loans worth 16.7 billion baht to applicants under this programme, compared with requested loans worth 17.3 billion.
The value of the extended loans were less than the target of 30 billion baht, so the bank decided to extend the loan application period to May 8-31.
Applicants can apply via the GHB All mobile application.
- Government Housing