Bangkok Bank Sees Bigger 2011 Loan Growth    
Industry News

By: Cesar Tordesillas, Asian Banking & Finance

Bangkok Bank's expects its 2011 lending to surpass the the 4-5 percent expected this year. The bank ascribes this to consumption, investment and government spending.

Economic expansion in Asian countries such as China, India and Indonesia should help stimulate investment by Thai firms, Executive Chairman Kosit Panpiemras told reporters.

"Next year, the economy will be driven by several factors, including domestic consumption and private investment and government spending," Kosit said.

"This year's loan growth should meet our target of 4-5 percent and next year should be higher," he added.

Other Thai banks are also expected to show strong loan growth next year, with Kasikornbank Pcl KBAN.BK, the country's third-largest lender, aiming for 7-9 percent. Bangkok Bank, with outstanding loans of $34.8 billion at end-October, reported a 1.6 percent rise in lending in the first 10 months.

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