Kasikornbank Plc (KBANK), has forecast that figures for loans to retail customers, particularly small- and medium-sized enterprises (SMEs), will expand by about 54 billion baht or 20 per cent in 2005.
"Even though the economy will grow at a slower pace next year due to the impact from the current global oil price hike and the possible economic slowdown in the US, affecting Thailand's export and international trade, consumer spending is expected to increase," KBANK's senior vice president David Hendrek said. He added that the expansion in consumer spending will not match the figures witnessed over the past two years.
KBANK's plans to increase its lending to SMEs, which have sale values under 50 million baht next year, by about 17-18 per cent from 2004's expansion of 19-20 per cent, he added. As of the end of October 2004, KBANK's lending to these SMEs stood at 204 billion baht.
