CIMBT targets 5% retail loan growth
published : 18 Dec 2020 at 04:00
1
CIMB Thai Bank (CIMBT) aims to expand retail loan growth by 5% next year, with a focus on mortgage and used-car loan expansions in the second half on expectations of an economic recovery.
The bank forecasts Thailand s economic conditions will gradually improve, but the pace of recovery will be slow in the first half of 2021 as the tourism industry will be pressured by the persistent pandemic crisis.
Thailand is expected to reopen for foreign tourists in the second half as greater clarity on vaccine distribution is expected.
Domestic business activities are expected to improve in the second half, subsequently helping further propel economic recovery momentum, said Tan Keat Jin, head of consumer banking business.