Home MMBIZ News Siam Commercial Bank Aims for 2014 Loan Growth Of 9-10pc

Siam Commercial Bank Aims for 2014 Loan Growth Of 9-10pc

Siam Commercial Bank Pcl (SCB), Thailand’s third-largest lender by assets, said it is aiming for loan growth of 9-10 percent in 2014, slower than its target of 10-12 percent this year.

SCB expects loan growth for the overall banking sector to hit 8-9 percent next year, based on assumption that the country’s economy will grow of 4-5 percent, President Kannikar Chalitaporn told reporters.

The lender, which had loan growth of 12 percent in the first nine months of this year, plans to sell at least $500 million to $1 billion bonds before the US Federal Reserve starts tapering its QE program, she said.

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