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Published on February 29, 2008

The property market is expected to revitalise following the recent downward interest-rate trend and a return to political stability. As a result, the bank's mortgage-loan market will intensify.

Senior executive vice president Thanachai Thanachaiary said: "In the medium term, we want about a 20-30-per-cent share of the mortgage-loan market, but whether that is achievable depends on the market environment. The bank plans to enlarge its customer base and open new branches in key provinces in years to come. We now have branches only in the greater Bangkok area."

He predicts outstanding mortgage loans will stand at Bt158 billion this year, Bt50 billion of which will be controlled by the Government Housing Bank.

Under the small bank's plans this year, it will open two more branches - in the Min Buri and Navanakorn areas - from the existing 152 branches and add 20 exchange booths and automatic teller machines in Chiang Mai and Phuket provinces. The bank would gradually renovate its existing branches to streamline its operations, he said.

The bank has teamed up with Thaivivat Insurance and Axa Insurance for the non-life-insurance business and AIA for the life-insurance business.

UOB sold Thaivivat insurance policies with combined premiums of Bt90 million last year, and that figure is expected to surge at least 30 per cent next year, he said.

UOB along with Thaivivat Insurance yesterday introduced a new insurance policy - UOB Love and Care - with a target of Bt30 million in premiums in the next three months.

Siriporn Chanjindamanee

The Nation