With the government cooling the auto loan business Thai banks are looking for ways to increase their revenue streams. Siam Commercial Bank is planning to increase its digital lending platform by 8 times in the coming year.
Online loans in the 20% per year range should move some business away from the loan sharks 5% per month rate.
https://www.bloomberg.com/news/articles ... oan-growth
https://www.reuters.com/article/us-thai ... SKCN1U52RB
The Money Lending Business in Thailand
Re: The Money Lending Business in Thailand
“Our car sales in April and May fell by 50%,” said Sumete Patchuttorn, managing director of Mazda Mahachai.
“Finance firms are more cautious about lending now,” he said, adding that about 60%-70% of his clients’ loan requests were rejected this year, up from 30% in the previous year. More than 80% of car buyers rely on loans.
Holy cow..read both articles..not to many positives regarding Thai economi.
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- udonmap.com
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Re: The Money Lending Business in Thailand
Hate to say i told you so , but , i told you so . On another thread somewhere , a while ago .
Money is tight right now .
Money is tight right now .
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- udonmap.com
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Re: The Money Lending Business in Thailand
We ALL ( Farangs ) Hope So Too !!!