BAAC revives lottery scheme
The Bank for Agriculture and Agricultural Cooperatives plans to raise Bt20 billion later this year by launching another lottery-savings scheme in which passbook holders can win prizes.
The bank's executive vice president Boonthai Kaewkhuntee said the scheme would begin in December.The prizes to be offered to "winners" have yet to be decided, and interest rates to be offered to depositors will not be settled until market conditions are considered later in the year. Boonthai said the bank might have to offer higher interest rates than those in its previous such schemes. The bank has raised Bt26 billion in deposits from lottery-savings and premium certificate savings to celebrate its 40th anniversary, he said, and it expects to reach its target of Bt30 billion by the end of this month. The Bank for Agriculture and Agricultural Cooperatives has outstanding loans worth Bt400 billion and savings deposits worth Bt450 billion. The bank is still able to find cheap funding so it can lend to farmers at lower interest rates, Boonthai said. Wichit Chaitrong The Nation
|
