BOT reported 3Q system loan growth slows to 5.3% from 6.3% in 2Q due to loan repayment by government & better portfolio management, sees current loan growth well above 4.3% average during FY17-19 whereas 3Q NPL dropped to 2.77% from 2.88% in 2Q, expects active loan management, debt restructuring and supportive measures for vulnerable groups able to prevent NPL ratio to spike.
Banks report dip in NPL ratios: Banks posted lower non-performing loan (NPL) ratios in the third quarter this year thanks to the economic recovery and appropriate risk management under their debt relief programmes. The commercial banking sector reported an NPL ratio of 2.77%, representing a total of 503 billion baht in the third quarter, down from 2.88% and 530 billion, respectively, in the previous quarter. Bangkok Post
PPRP may ‘lose up to 40 MPs’: Many defectors will follow PM: source. The ruling Palang Pracharath Party (PPRP) is being rocked by defections as about 40 MPs are expected to migrate to other parties, according to a party source. Bangkok Post
Govt boasts net revenue exceeded target by 151 billion baht: The government announced yesterday its net revenue in the 2022 fiscal year exceeded its target by more than 151 billion baht. Bangkok Post
End of eased loan-to-value limits mars mood: REIC predicts 19% dip in demand. Total home loans are expected to drop by 4% in 2023 if the LTV measures end. The expiration of lower loan-to-value (LTV) limits at the end of this year will affect residential demand by 19% in 2023 as many homebuyers have insufficient time to adapt, according to a market researcher. Bangkok Post
Merger to push on as tender scrapped: True Corporation and Total Access Communication (DTAC) have vowed to continue pursuing their amalgamation, although two affiliates of the pair scrapped their plans to conduct tender offers to acquire the two telecom operators’ shares to create a path for the merger. The two affiliated firms are Citrine Global Co and Citrine Venture SG Pte, joint venture companies of Charoen Pokphand Holding, a shareholder of True, and Telenor Asia Pte, a shareholder of DTAC. Bangkok Post
October tourism arrivals were 1.475m, +12.7% mom, Malaysian topped the visitor list with 316,537, Indian were 2nd with 126,606, Laos were 86,591, Korea 73,225, VN 71,228.
The Natural Resources and Environment Ministry has urged the tourism industry to focus on spending per person instead of total arrivals to help preserve the environment, recommending policies such as capacity limits at tourist attractions.
Direct sales set to grow 3-5% next year: Thailand’s direct sales industry is expected to see growth of 3-5% next year after two years of contraction attributed to the Covid-19 outbreaks. According to Surachet Chousri, the newly appointed president of the Thai Direct Selling Association (TDSA), the sector fell to 69.3 billion baht and 63.8 billion in 2020 and 2021, respectively, from 70.1 billion in 2019. Bangkok Post
Operators urged to focus on spending: The Natural Resources and Environment Ministry has urged the tourism industry to focus on spending per person instead of total arrivals to help preserve the environment, recommending policies such as capacity limits at tourist attractions. Bangkok Post