GHB keeps target after loans rise in Q1

Economy May 21, 2014 00:00

By The Nation

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THE Government Housing Bank is maintaining its new mortgage loan target at Bt130 billion for this year after extending Bt29.35 billion in the first quarter, up 5.52 per cent on year.

The bank’s non-performing loans reached Bt46.93 billion or 6.29 per cent of outstanding loans as of March 31, president Angkana Chaimanat said yesterday. 
Over the first quarter, outstanding loans went up 1.3 per cent to Bt746.34 billion, total assets up 3.0 per cent to Bt788.96 billion and deposits up 4.2 per cent to Bt624.89 billion.
The bank continues to provide opportunities for lower-income earners to own a home by offering special financing packages to cover all of the demand in the market.
For example, members of the Government Pension Fund can get a zero interest rate for the first seven months, while homebuyers with monthly earnings of not over Bt15,000 can get a fixed interest rate of 3.50 per cent for the first year. 
The bank also promotes savings by launching special deposit products with a high interest rate of 2.75 per cent. This is expected to keep the bank’s deposits rising.
“We have continued to approve home loans for customers even though the country’s economy grew only slightly in the first quarter of this year,” she said.