Loan extension under the Bank of Thailand's soft loan and recovery loan schemes for businesses affected by the pandemic has reached 300 billion baht since the launch of the programme in April 2020. For the overall banking sector, loan growth was sluggish in the first quarter as a result of the impact of the Omicron variant. The bank later adjusted the soft loan scheme to recovery loans to better serve borrowers. According to central bank data, as of April 18 this year the total loan approvals under its soft loan and recovery loan schemes amounted to 305 billion baht, extended to 128,572 business operators. Retail loan growth is expected to stand at 4%, with swelling household debt a key factor pressuring the segment, said the research house.

Source: Bangkok Post May 03, 2022 05:16 UTC