(Photo by Patipat Janthong)Krungthai Bank (KTB) is halting its auto loan expansion amid heightened competition, saying the business is uncompetitive against rivals. KTB Leasing will continue to take care of its current auto loan customers, who have loans outstanding of 11 billion baht, Mr Payong said. "Amid several uncertainties, this isn't a suitable time to expand auto loans," he said. The central bank is wary of auto loans after double-digit growth in lending and an uptick in bad loans. Auto loans via the digital platform could lead to sustainable growth in the long run, in line with changing consumer behaviour, he said.

Source: Bangkok Post June 03, 2019 23:11 UTC