Over ฿289bn extended by Thai banks to clients hit by COVID-19 pandemic

23 Sept 02:13 Key points summarised by AI

Thai commercial banks have extended over ฿289.3 billion in financial assistance to 124,250 customers affected by the COVID-19 pandemic, through measures such as debt moratoria, refinancing, and asset warehousing.
This significant aid addresses a backdrop of substantial household debt, reaching ฿14.35 trillion (89.3% of GDP) in Q3 2021, and increasing overdue loan payments, despite a slight drop in Non-Performing Loans (NPLs).
Banks are accelerating long-term debt restructuring and providing new funding, anticipating a 7.9% credit expansion to bolster the economy's recovery.
To enhance support for Small and Medium-sized Enterprises (SMEs), banks are developing a Digital Supply Chain Finance scheme for streamlined transactions and utilizing Big Data, AI, and credit bureau data for improved credit scoring and service efficiency.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.