SCB boosts personal loan business by 30%

Siam Commercial Bank's personal loan business grew by 30% for the first half of the yearwith an outstanding loan amount of 18 billion baht.

This was revealed by Ms. Araya Phuphanich, SCB First Executive Vice President, Head of the Credit Card and Personal Loan Division, who added that The number of new clients increased by more than 120,000.

The bank indicated that it intended to take the lead in the business by raising that figure to over 40 billion baht in 2013.

The Bank sees an opportunity to enhance business growth, and plans to strengthen its competitiveness through a focus on distribution channel expansion.
 
As for the credit card business, in which the Bank has an existing card base of more than 1.8 million, Ms. Araya said that performance in the first half of the year lived up to expectations, whether the number of new clients or the fact that card spending grew by around 15%. Importantly, overseas spending surged over 20%, demonstrating increased confidence in the country's economic conditions. The Bank eagerly hopes to further expand its credit card business by targeting an increase in total spending by 25% to 160 billion baht, or a 18% market share by the end of this year.